- Alphabet-owned Google is collaborating with a variety of companies on different projects.
- The tech giant is partnering with Nissan and others to launch its Android infotainment system in vehicles.
- Google Assistant now works with over 5,000 smart home devices from various brands.
Google is collaborating with companies right and left these days, most recently with the alliance of Renault, Nissan and Mitsubishi. To stay relevant and to compete with e-commerce giant Amazon, Google seeks out new and lucrative opportunities that will bring its products and services to more consumers. Investors in these companies can potentially benefit along with the collaborating brands and, ultimately, consumers. Here are six stocks to watch as Google partners with these major brands.
Click to find out 12 times you should and shouldn’t invest in your favorite brands.
The alliance of Renault, Nissan and Mitsubishi has partnered with Google to incorporate Alphabet’s Google Android system into their vehicles in the form of onboard infotainment systems. The first vehicles with the capability will be available in 2021.
As of April 2018, Nissan stock ranks among the top 8 percent in the auto manufacturing industry and is rated as a strong value contender with better performance to come, according to Zacks.
In November 2017, Google and the Volkswagen Group announced a partnership to explore the use of Google’s quantum computer to advance three key Volkswagen IT areas:
- Traffic optimization development
- Simulating and optimizing structures for things like high-performance batteries for electric cars
- Improving artificial intelligence learning capabilities
Volkswagen has had some trouble in the past, such as the emissions scandal in 2015, but the company is aiming to become a global leader in the electric vehicle market, starting with mass production in 2022. As of Sept. 2018, Zacks rates Volkswagen stock as a hold.
In an effort to help dispatch emergency workers to the exact locations they are needed, Google has struck a deal with T-Mobile US Inc. to funnel location data from mobile devices using the Android platform in the U.S. to emergency response call centers. Within the past six months, T-Mobile has outperformed the industry with an average return of 7.9 percent.
Earlier in 2018, Lenovo and Google announced the upcoming release of the first Google Assistant smart display, which functions similarly to Amazon’s Echo Show. The product was released in late July. Zacks recommends Lenovo stock as a buy due to its good value and solid activity on the earnings estimate front.
In 2017, in an effort to compete with the wide reach of Amazon, Google and Walmart formed an alliance that would make Walmart’s products available via Google Express.
In early 2018, Google announced another strategic move in its war against Amazon: Shopping Actions. When people use Google to search the phrase “Where can I buy …,” Google will respond with product listings from big-box retailers like Walmart. Following Walmart’s solid second-quarter fiscal 2019 results, its stock jumped 9.3 percent, according to Zacks, which makes this a company to put on your watch list.
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Users of Logitech Harmony remote controls can enjoy the voice functionality of Google Assistant, as Google strives to catch up to Amazon’s Alexa through its partnerships with brands like Logitech. Google Assistant now works with over 5,000 smart home devices. But its partnership with Google isn’t the only reason you might want to keep an eye on Logitech. Well-known for its innovative mouse and keyboard products, the tech company recently released an advanced ergonomic mouse. Zacks recommends Logitech as a strong buy.
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