A recent report from GigaOM suggests that Google (GOOG) is in the process of rebranding its smart TV offering from Google TV to Android TV. While this change may seem purely cosmetic, I believe it has deeper implications for the Search King's overall strategy that is good news for investors. Unlike Apple (AAPL), which is a closed system - meaning if you are running iOS, you are using Apple hardware as well - Android is known as an operating system that is effective across manufacturers and enjoys 79.3% of global market share according to IDC. By rebranding its smart TV option, Google sends the message that it is not responsible for the hardware - an area in which it has struggled, leaving that to others like Samsung (OTC:SSNLF).
In the video below, I discuss some of the ramifications of the move by Google, what the company is doing with both Android and Chrome, and even with a P/E over 25, Google stock remains a must-own option for your technology portfolio.