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Analyst: Google Working with Apple In Phone Market
by , 12:40 PM EDT, March 22nd, 2007
Despite talk that Google is developing its own mobile phone, Piper Jaffray analyst Gene Munster feels that the search giant is working with Apple, not against it, in the mobile phone space. Speculation that Google hired several employees away from Sidekick to work on a mobile phone may also be misguided.
"We spoke with one person with knowledge of the situation, and believe the SideKick hires were 5 to 10 people, with a focus on software," Mr. Munster said. "We believe Google is building mobile applications for search and location that will work with the iPhone, and other mobile phones."
If so, that could indicate Apple is working directly with Google to bring additional applications to the iPhone. Although the iPhone won't be released until June, Apple CEO Steve Jobs stated in January that the two companies had collaborated to bring Google technology to the combination iPod/smart phone.
Interest in Apple's iPhone goes beyond Google, too. Advertisers meeting at the Online Media, Marketing and Advertising Expo are excited about the potential the iPhone brings to the advertising market.
He commented "We were surprised at the OMMA conference how important the iPhone is viewed by advertisers. Advertisers at OMMA believe the iPhone marks a fundamental change in targeting the 'third screen,' that is advertising to the mobile word."
Mr. Munster is maintaining his "Outperform" rating and US$124 target price for Apple stock. Apple is currently trading at $93.84, down 0.0. (0.03%).
If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.
Observer Comments
Thu Mar 22, 2007 2:06 pm Subject: Makes sense
Thu Mar 22, 2007 2:21 pm Subject: I know how this is going to work...
One of the best things about being in the secret loop is that I get information like this...
On the upcoming Apple iPhone, you'll be able to text "greek 92715" to 466453 ("Google") and get a text message back of all the Daphne's restaurants within 10 miles of Irvine.
My source is pretty reliable on these things.
Eeek your source is wrong.. the number is 46645 GOOGL ... so you might want to find a corroborating source on the rest of that info Bosco - or should I say Dan Rather 
<just kidding>
QuoteBosco wrote:
One of the best things about being in the secret loop is that I get information like this...
On the upcoming Apple iPhone, you'll be able to text "greek 92715" to 466453 ("Google") and get a text message back of all the Daphne's restaurants within 10 miles of Irvine.
My source is pretty reliable on these things.
QuoteGuest wrote:
You can already Text Google at 46645, on any mobile phone. Not an iPhone exclusive
In other news, Guest was at a party last night and he saw a turd floating in a punchbowl. Rather than discretely picking it out and putting it the trash can, Guest made sure everyone knew about it. Turns out it was actually frozen iced coffee made with a special turd shaped mold they sell at The Sharper Image.
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