Alphabet Stock Drops as Google Raises Pixel 11 Prices Amid Memory Costs

Alphabet's stock price slipped by about 0.5% on Wednesday following Google's announcement of its Pixel 11 smartphone lineup, which comes with a higher price tag than its predecessors.

The starting prices for the new devices have increased due to the inclusion of 256GB of storage, with the base model costing $899 and the Pro and Pro XL models priced at $1,099 and $1,299 respectively.

The Pixel 11 series boasts improved performance thanks to its Tensor G6 processor and Gemini Nano, which can accelerate AI processing speed while reducing energy consumption.

Additionally, the lineup features enhanced camera capabilities, including telephoto enhancements on the Pro models, as well as faster charging and scratch resistance on the top-end devices.