THE GOOGLE INVESTOR: Will Google Become Your Next Mobile Carrier?

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chart of the day, eric schmidt, red eyes

GOOG Down As Market Flip FlopsĀ 
The markets are bouncing around this morning on light volume as investors wind down the end of the year. Shares of GOOG are off $2 in early trading, significantly more than the rest of tech. Upcoming catalysts include continued Android growth; regaining momentum in China; updated software, adoption and media partners for Google TV; and progress in other newer initiatives (location-based services and mapping, gaming, social, etc.). The stock trades at approximately 16x Enterprise Value / EBIT, inexpensive relative to historical trading levels and the broader Internet group.

Analyst Says Google And Yahoo! Are Internet Buys (Forbes)
Looking for Internet plays? Hudson Square Research analyst Rory Maher suggests you look no further than Google and Yahoo. Maher picked up coverage of both companies yesterday with Buy ratings. He has a $750 price-target on Google and sites continued product improvements, shift of local advertising dollars online, growth from emerging countries, and material mobile searches. Maher also believes “the risks from social networks and other emerging online businesses are overblown.”

Will Google Become A Wireless Carrier? (CNN)
Google dabbles in selling phones, it licenses the Android smartphone operating system, and it is trying its hand at becoming an Internet service provider. But its biggest weapon is Google Voice. Google currently relies on the established carriers to sell and support its devices. But if Google has the ability to deal directly with its customers, why not cut out the middleman? If Google could find an easy way to transition into the cell space and provide mobile coverage, there would be some very serious advantages to that.

Logitech Says What Google TV Delay? (eWeek)
Logitech has come out swinging versus the media to refute reports that it had asked Gigabyte Technology to halt sending new appliances so that Google could upgrade the product. There’s no need to request a delay because the Google TV software upgrades are delivered over the air, the same way software updates are sent to Android phones.

Android Market Unofficially Hits 200,000 Applications (Android Guys)
The Android Market continues to populate at an enormous rate, adding new apps and games faster than most expected. Officially, Google puts the number of available titles at 100,000, however has pegged the figure at 200,000 apps.

Samsung rumoured To Unveil New Galaxy Tab At CES Next Week (The Korea Times)
Samsung is rumoured to be bringing their Galaxy Tab follow-up to CES next week. It’s a little surprising to hear, considering the Tab is only a couple of months old. Perhaps a larger model in the realm of 10-inches is in order.

Technically, Shares Of GOOG Should Be Watched (Investor’s Business Daily)
Google formed a cup-shaped base, part of a larger base right before the stock broke out in October and began to climb. Then it paused and fell back to its 50-day moving average line. That pullback has lasted long enough to become a base and so far that base seems to be a cup-shaped base with a short handle. But when the stock climbed past the peak, there wasn’t a clear breakout. That could be on its way. Watch to see if the stock can break out past that buy point on above-average volume.

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