Google is about to have its biggest event ever and some analysts think the stock is going to $1,000

Sundar Pichai GoogleGetty ImagesGoogle CEO Sundar Pichai.

Google is gearing up for a doozy of an event Tuesday, where it’s expected to announce loads of new products ranging from smartphones to connected speakers to virtual reality headsets.

In a note published Monday, Jeffries analysts wrote that the new products will give new life to Google’s ecosystem of apps and services. They set a target of $1,000 for parent company Alphabet’s stock.

Jeffries’ previous price target for the stock was $804.06.

From the Jeffries note:

“On Oct 4 Google is expected to unveil a slew of new devices designed to showcase and drive usage of its best-in-class software services. Among the expected announcements: two new flagship smartphones designed to directly compete with the iPhone, a strategically important Bluetooth speaker that responds to voice commands, a new Chromecast audio / video streaming device, and a new OS called Andromeda, which will merge Chrome with Android.”

Alphabet stock was trading at about $770 Monday.

NOW WATCH: How to see everything Google knows about you

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.