GOOG Relatively Flat In Mixed Market The markets are mixed this morning after new claims for unemployment benefits fell last week, however, not enough to calm fears that the labor market recovery has taken a step back. Shares of GOOG are up marginally with the rest of tech. Upcoming catalysts include continued
Android momentum in the smartphone and tablet markets; regaining ground in China; updated software, adoption and media partners for
Google TV; the roll-out of
Google Music; and progress in other newer initiatives (
+1, location-based services, mapping, gaming, etc.). The stock trades at approximately
12x Enterprise Value / EBIT, inexpensive relative to peers and historical trading levels.
Google Is A Top Buy At Two Leading Banks (Various)The tech giant is still a favorite:
- Barclays Initiates On Google With Overweight Rating (MarketWatch): Barclays initiated coverage of the U.S. internet sector. They launched coverage of Google with an Overweight rating. Analyst believes that video viewership will continue to shift online from television, earning YouTube a particularly positive outlook. The company has also placed itself in a position for continued success due to their dominant position in search and their reach into the mobile market with its Android platform.
- GSAM Thinks Google Is A Buy (Seeking Alpha): Goldman Sachs Asset Management (GSAM) seeks businesses with sustainable operating fundamentals, competitive advantage, strong cash flow and balance sheets with the ability to earn above their cost of capital. Making the Buy this last quarter was Google. GSAM increased its stake in the company by nearly 750K shares.
Apple's iCloud Will Seriously Undermine Google's Value Proposition (Datamation) Apple's impending launch of
iCloud essentially erases Google's main argument (your data is safe) in favor of Chromebooks. It seriously undermines Google's long-standing cloud-based Google Docs service. Once Apple automatically duplicates everything into the cloud, Google Docs just doesn’t seem all that interesting anymore. iCloud also has the potential to turn iPad into a real computer. iCloud sync could serve as an alternative, allowing some users to use iPads as their one-and-only device.
Read » Google Renews iOS Mapping And Search Partnership (TechCrunch) During a keynote interview at AllThingsD's D9, Google Chairman Eric Schmidt made a key announcement: Google renewed its partnership with Apple over mapping and search. Why is this important? Over the last few years, Apple has purchase two substantial mapping services; Poly9 and Placebase, as well as advertised jobs relating to maps improvements. But, with the Google partnership still in place, Apple will continue to ship every iPod Touch, iPhone, and iPad with a Google Map and Google Search. For now at least.
Read » Android's Lead On iPhone Plateaus, But Still Clobbering Apple (MobileCrunch) Google's Android operating system accounted for 36% of U.S. smartphone market share through April, according to Nielsen. That's 10 percentage points higher than Apple iOS's 26% share for the iPhone. Research In Motion's
BlackBerry OS ranked No. 3 with 23%. Users of Apple's iPhone typically do a bit more with their phones, but Android owners are grabbing the largest amount of data each month (why is that not sinking Verizon?). Down at the bottom of the barrel, Windows Phones lead at 9%.
Read more from Henry Blodget at Business Insider.
Read » Chrome Continues To Grow In Browser Popularity (Net Applications) Chrome's growth continues a steady trend, up to 12.5% market share. Microsoft's IE9 made steady gains to 4.2% of users, but not strong enough to offset overall share loss for Microsoft IE down to 54.3%. Firefox and Safari stayed about level at 21.7% and 7.3%, respectively. Google sees Chrome as an indirect revenue source: Chrome OS, sold in laptops and corporate subscriptions and the Chrome Web Store, which the company hopes developers will sell Web apps.
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