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‘Overpriced’ Pixel fails to drive Google share price

Shares in Google’s parent company, Alphabet Inc, actually fell in after-hours trading after the launch of its latest smartphones

the outside of Google's US headquarters
The Silicon Valley-based firm will hope that pre-order sales are strong

Yesterday’s highly-anticipated launch of Google’s latest smartphone venture fell flat with investors, with Alphabet Inc’s (NASDAQ:GOOG) share price flattering to deceive.

Indeed, the stock could only muster another couple of dollars during regular trading on Tuesday, and it actually gave up some of those gains in the after-hours market.

Most reviews on the internet seem to be positive, with bloggers commenting on the camera, as well as several other software and hardware upgrades.

But the sticking point with potential customers seems to be the price. In the UK, the standard Pixel will go on sale for around £599, with its bigger cousin, the Pixel XL, starting at £719.

These price tags have put the phones firmly into the premium segment of the market, headed by Apple (NASDAQ:AAPL) and Samsung, and fans aren’t happy…

 

 

The company will hope that pre-order sales for the Google Pixel and the Google Pixel XL are as strong as those achieved by Apple last month to help push up the share price

Despite initial bad reviews, the iPhone 7 propelled the tech giant’s stock forward, with the company adding US$50bn to its market value in the week following initial pre-orders.

Shares in Alphabet were down slightly to US$776.43 in after-hours trading.

Quick facts: Alphabet Inc

Price: 1350.27 USD

NASDAQ:GOOG
Market: NASDAQ
Market Cap: $931.26 billion
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