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GOOG Sideways In Mixed Market
The market is mixed today as investors process economic news. Shares of GOOG are all over the map dipping down in early trading and finding some footing by midday, while overall tech has been up. Upcoming catalysts include continued Android growth; regaining momentum in China; adoption of and media partnerships for Google TV; and progress in other newer initiatives (location-based services and mapping, gaming, social, etc.). The stock trades at approximately 15x Enterprise Value / EBIT, inexpensive relative to historical trading levels and the broader Internet group.Another Analyst Raises Estimates And Price Target (International Business Times)
Benchmark Capital analyst Clayton Moran raised its profit estimates and price target on Google citing the company’s strong operating momentum in search business. He believes Google will post another 25% growth in revenue for the quarter and boosted his forecast by 20 cents to $8.38/share. Moran said a 12% rise in eCommerce sales and growing online advertising point to a strong holiday season.
Google Bought Zetawire A Year Ago And Its Expertise Now Shows Up In Nexus S (TechCrunch)
Google quietly purchased a small Toronto startup named Zetawire as long a year ago. Zetawire had a patent application for a payment, advertising and identity management system, and provided Google with necessary near field communications (NFC) expertise. And it just so happens the Nexus S has a NFC chip inside. Coincidence? Not likely.
Chrome OS And Android Likely To Merge Or Destroy The Other (eWeek)
Many are predicting that Chrome OS and Android will eventually merge. Co-founder Sergey Brin even said that a year ago. Google wants you to be able to print Google Docs and other content via Chrome OS, so there’s no question it views Chrome OS as a mobile technology and it seems well-suited for tablets. But this isn’t likely to happen in 2011. Time will tell.
Google Updates Google TV Software (AndroidGuys)
Two months after its arrival, Google TV is getting a software update: 1) a Google TV Remote application, 2) an updated Netflix application, 3) offer a movie results page that pulls all films associated with a title regardless of source, and 4) dual-viewing options.
YouTube To Create Original Content With Acquisition Target (The New York Times)
YouTube is in talks to buy web video production company Next New Networks. The deal would allow Google’s video sharing site to create original content for the first time. As Google tries to lure users to watch YouTube on their TVs through its Google TV software, YouTube is increasingly focused on providing professional content and figuring out how to attract audiences and advertisers to the programming. Read more at Business Insider.
Why The Nexus S Matters: It’s Pure Android (Fortune)
The Nexus S is the best Android device you can buy right now. But its hardware is not new or notable. Its superiority lies in what isn’t on it. No trialware, bloatware or crapware on board to dilute the experience. No messy overlays to slow down OS updates or confuse users. It’s just pure Android.
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