Google likely to unveil new Pixel smartphones, Pixel Watch next week: analyst
Sean Gallup

Google (NASDAQ:GOOG) (NASDAQ:GOOGL) is hosting a product event next week and investment firm Monness, Crespi, Hardt expects the tech giant to show off new versions of the Pixel 7 smartphone and its Pixel Watch, the company's first smartwatch using Google technology on the inside and out.
Analyst Brian White, who has a buy rating and a $145 price target on Alphabet (GOOG) (GOOGL), Google's parent company, noted that the company is "well positioned" to capitalize on the long-term digital advertising trend, as well as the shift to cloud computing and the digital transformation, but this event will be focused on hardware, something Google has struggled with in the past. 
"Most Android-based smartphones are developed by brands outside of Google; however, the company has made great strides in improving its own smartphones (and other devices) over the years," White wrote in a note to clients.
The analyst added that there is "increasingly" a big opportunity for the company to leverage its artificial intelligence prowess across its device portfolio and "create unique experiences for consumers." 
At the company's I/O developer conference this year, Alphabet (GOOG) (GOOGL) said 1B Android phones were activated in 2021.
However, it's expected that the overall smartphone market will decline 6.5% this year to 1.27B units, according to research firm IDC. However, the higher-end of the market, which is largely dominated by Apple (AAPL), is expected to fare better.
Apple (AAPL) had 15.6% of the global smartphone market in the second quarter, according to IDC.
Cupertino, California-based Apple (AAPL) unveiled the iPhone 14, along with new versions of the Apple Watch and AirPods Pro at an event earlier this month.
Google (GOOG) (GOOGL) has previously teased the Pixel 7 and Pixel 7 Pro smartphones, as well as the Pixel Watch, which uses technology from the company's $2.1B acquisition of Fitbit.
Investment firm Citi recently listed Alphabet (GOOG) (GOOGL) as one of its top investment picks.