The Release of New Products Supports Smart Money’s Confidence in Google

Google Inc (NASDAQ:GOOG) is fresh off its latest Nexus announcement where, for the first time, it simultaneously unveiled two new Nexus phone models, and the market is reacting favorably to the news. The development supports hedge funds’ long love for Google as the company continues its expansion in the smartphone space.

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Shares of Google Inc (NASDAQ:GOOG) are up 1.50% after the bell on the back of the announcement of the new Nexus phones and other updates for products including Android, Chromecast, Chromecast Audio, Project Fi, and Google Play Music. The two new phones unveiled by Google at the event include the Google Nexus 6P, made by Huawei, and the Google Nexus 5X, made by LG Electronics. Both will run on the new Android 6.0 operating system called “Marshmallow”, and the Nexus 6P is the larger, more powerful albeit pricier option against the Nexus 5X.

The Nexus 6P is powered by a 64-bit octa-core Qualcomm Snapdragon 810 processor, Adreno 430 graphics processor and 3GB of random access memory (RAM). Its other features include a 5.7-inch wide quad HD AMOLED screen, 12-megapixel Sony rear camera with laser autofocus and 4K video capture capability, 8-megapixel front camera, a back-mounted fingerprint reader called the Nexus Imprint and a USB Type-C port which the firm claims can charge the phone twice as quickly, compared to the iPhone 6 Plus (see our compilation of smartphones with fastest charging times). While less powerful, the Nexus 5X is no slouch either as it is equipped with a hexa-core Qualcomm Snapdragon 808 processor, Andreno 418 graphics processor and 2GB of RAM. Featuring a 5.2-inch full-HD screen, it comes with the same back camera as the Nexus 6P and a 5-megapixel front camera, Nexus Imprint and a USB Type-C port. Both devices have no expandable memory. Preorders are open today in the US, UK, Ireland, and Japan for the Nexus 6P, with Korea added to the countries for the Nexus 5X, while shipments are scheduled to start next month. The Nexus 6P and Nexus 5X start at $499 (32GB internal memory) and $379 (16GB internal memory), respectively. While being the highlight of the Nexus event, the phones were far from the only new products released by Google.