Tomorrow will see Google host a keynote which could easily be ranked among the company’s history’s most important — at least according to SVP Hiroshi Lockheimer. But beyond marketing hype and anticipation, analysts too are tuning their financial forecasts for the event’s immediate resonance, and more importantly for the ripple effects beyond that…
Jefferies analysts, in a note published earlier today, mentioned the new products expected to give the firm a significant boost that will breathe new life into its ecosystem of apps and services; a move so important that it seemingly made them set a monstrously high stock target of $1,000 for Google’s parenting company Alphabet.
Considering that their previous price target was $804, that’s quite a significant jump, especially given that GOOG class C stocks are currently trading at about $770. Tomorrow could truly prove to be a watershed moment in Google‘s history, and certainly one that will make us learn what the company’s vision for the future (its own as well as, arguably, the industry as a whole) is.
From the the Jefferies’ note:
On Oct 4 Google is expected to unveil a slew of new devices designed to showcase and drive usage of its best-in-class software services. Among the expected announcements: two new flagship smartphones designed to directly compete with the iPhone, a strategically important Bluetooth speaker that responds to voice commands, a new Chromecast audio / video streaming device, and a new OS called Andromeda, which will merge Chrome with Android.