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GOOG Up With The Rest
Markets are trading in the positive today on better-than-expected retail sales. Shares of Google are trading up along with the rest of tech — all up about 1.5%. Upcoming catalysts include second calendar quarter results released in July; 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, Chromebooks, etc.). The stock trades at approximately 11x Enterprise Value / EBIT, inexpensive relative to peers and historical trading levels.
iPhone 4 Still Top Selling Phone According To Channel Checks Says Analyst (Electronista)
The iPhone 4 is still the top-selling smartphone at AT&T and Verizon by a wide margin, according to Canaccord Genuity research analyst. Checks showed that the Apple phone was still “by far” the most popular in May and June. Perhaps those who considered switching from the iPhone to another platform might have been convinced to hold out for iOS 5. While that might be the case, the next 3 phones in line (other than iPhone 3GS) are probably Android-based and added together likely kill iPhone numbers.
Nearly Half Of Apple Developers Build For Android As Well (Fortune)
Piper Jaffray analyst Gene Munster surveyed developers at Apple’s WWDC last week. Clearly attendees are going to favour Apple in some fashion, but there were some interesting results:
- Only 7% are also developing apps for the Mac
- Nearly half or 47% write apps for Android, 36% for BlackBerry, 13% for Windows Phone 7 and 7% for WebOS
- Asked which platform had the highest potential for future growth, none mentioned the BlackBerry, WebOS or Symbian (not surprising considering it’s all but dead)
- 100% preferred iOS for ease of development and monetization
- Complaints include Apple’s “strict limitations” (38%) and the App Store approval process (11%)
Google has some opportunity to get ahead in those respects; openness and approval speed.
Google Retails Search Share In May, Microsoft Stalls (comScore)
According to comScore, Google retained its seemingly locked in 65% U.S. search share through May, notching 65.5% in May compared to 65.4% for April. Yahoo and Microsoft’s Bing search engines maintained their exact same search share from April, posting 15.9% and 14.1%, respectively. After seeing nine months of growth in the U.S. search market, Microsoft’s Bing fell flat.
Google Shells Out $400 Million For Ad Optimizer (TechCrunch)
AdMeld, an advertising optimization platform for publishers, has been acquired by Google for around $400 million. The company has raised just $30 million with 4 years under its belt. The acquisition marks the latest in a wave of investments that are bringing a new approach to the display market; SAP recently funded a similar company, OpenX. Jay Yarow at Business Insider says betting on AdMeld is risky. In any event, it is a nice comeback for CEO Michael Barrett who was fired from News Corp. in 2008 when MySpace failed to meet a $1 billion revenue target.
Is Google Announcing Something Big In Search Today? (Business Insider)
Google is having an Inside Search event for journalists today in San Francisco hosted by top engineer Amit Singhal. The last time Google did something like this, it was to introduce Google Instant. Today the company could announce new social search features related to Google +1, more tweaks to help get rid of spam and increase relevance, or something new. Matt Rosoff at Business Insider will be following along and bringing you the Google Inside Search news live.
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