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GOOG Down With Market
Stocks are extending losses today after GDP expanded as expected while initial jobless claims were worse than anticipated. Shares of GOOG are down with the rest of tech. Investors continue look for Android momentum in the smartphone and tablet markets worldwide, especially with the Motorola acquisition integration; regaining ground in China; resurgence of Google TV; and continued growth of YouTube; expansion of social network Google+; and progress in other newer initiatives (location-based services, mapping, gaming, daily deals, Google Wallet, Google Music, etc.). The stock trades at approximately 13.1x Enterprise Value / EBIT.Citi Analyst Defends Google, Says Stock Ready To Rip (Business Insider)
Google has a friend in Citi analyst Mark Mahaney. He says the haters are wrong, and the stock, trading at $650 is ready to rip. He’s upping his price target to $750, from $680 previously. The reasons for his optimism: revenue is going to keep rising, social channels like Facebook and Twitter aren’t affecting search spend and search is still big and growing in mobile.
Samsung Galaxy Note Crushes March With U.S. Launch (BGR)
Toward the end of February, Samsung confirmed that it had sold more than 2 million Galaxy Note phablets worldwide. About one month later, Samsung says sales of the super sized Android phone have reached 5 million units. While the handset is clearly too big for many users, it appears that there is indeed a large market for the phone. It’s not a dud after all. Samsung is well on its way to reaching its goal of 10 million Galaxy Notes sold by the end of 2012.
Google Releases Google+ Hangout Apps (TechCrunch)
Google announces that the first few third-party Hangout apps are finally available to try. These will be found within the Hangout itself, and can be accessed by clicking the new “Apps” button. Hangouts will be also be sorted into “Featured” and “Recent” groups. Some of these starter apps include Aces Hangout, where you can play poker with your friends. Google is definitely trying to make hanging out more fun for long distance friends.
EU To Release Results Of Google Antitrust Investigation Soon (VentureBeat)
The European Union competition commission is expected to release its finding on whether Google violated antitrust regulations in the next few days, according to a new letter from consumer rights group the European Consumer organisation. November 2010, the European Commission first opened up an investigation about the matter after rival companies like Microsoft accused Google of abusing its dominant position in the search market. If Google is found culpable, it could face a fine of up to 10% of its global financial turnover.
Five Things You May Not Have Known About Google (BusinessWeek)
Marissa Mayer, Google’s vice president of local, maps, and localisation, spoke with editor Josh Tyrangiel who got some dirt:
- Google’s basic, white home page was because Sergey Brin didn’t know HTML
- She almost killed the idea of targeting ads against users’ e-mails (which is now AdSense)
- An ad on the Google homepage would cost $10 million
- Most Google pages sport a small copyright notice at the bottom
- Mayer once had an intense fascination with Motorola’s circa-1996 StarTAC mobile phone
Mayer was among the search company’s initial recruits, joining in 1999, and she doesn’t believe in burnout.
Google’s Capex Will Keep It Ahead Of The Competition (Business Insider)
Google is under attack from a lot of different directions. But Google does have one big edge: its data centres are the most numerous, most advanced and most efficient in the world. That means that Google can deliver online services at massive scale and lightning-quick speed, even as the total number of Internet users explodes thanks to smartphones. After a brief gap during the recession, Google is spending more than ever before. Smaller companies like Facebook can’t come close. Check out the capex chart.
After More Than 5 Years, Google Drive Might See The Light Of Day (GigaOM)
No, not the self-driving cars. Om Malik reports that the fabled Google Drive or GDrive will come out in the first week of April. It’s a direct competitor to Dropbox, as well as Microsoft’s SkyDrive service (which has been around for several years now) but it doesn’t seem like Google is taking the competition very seriously. GDrive will offer only 1GB of free storage, compared with 2GB for Dropbox and 25GB for SkyDrive.
Oracle Rebuffs Google’s $2.8 Million In Damages Offer (Reuters)
Google proposed to pay Oracle a percentage of Android revenue if Oracle could prove patent infringement. Google offered to pay roughly $2.8 million in damages on the two patents remaining in the case, covering the period through 2011. Seems like an awfully low number. Oracle rebuffed the offer as too low, according to a court filing. Oracle sued Google Inc in 2010, claiming the Internet search leader’s Android technology infringed Oracle’s Java patents. A trial is set for April 16.
Google I/O Conference Sells Out In 20 Minutes (PC World)
The Google I/O 2012 conference sold out its allotment of 5,500 tickets within 20 minutes. Last year Google I/O sold out in just under an hour, while 2010’s version took 50 days to reach sell-out. That’s a good sign in terms of developer interest, which has been lackluster as of late. I/O, which has been held since 2008, is Google’s annual developers conference that covers everything from Android and Chrome to Google+ and its cloud-based services.