From the blogesphere to the traditional news media, everyone seems ecstatic about Google’s (GOOG) new browser, Chrome. Some are even proclaiming that it will overtake Windows (MSFT) and be the next major operating system. When so many smart people fall over themselves to hype a product still in development, I tend to try to view things from the other side. For the Chrome browser there are a lot of important questions that no one seems to be asking. Like what special capabilities is Google bringing to the crowded browser market?

Open Standards

Everyone is proclaiming how great this will be that we will have an open source browser. The thing is, there is already a great open source browser: Mozilla’s Firefox. It is debatable how much is gained from open sourcing the browser’s code. What is important is, how will this browser support open standards? Since so many websites were not initially implemented to fully support the W3C Standards (the international organization that defines the internet’s standards) will Chrome be able to correctly render 99% of websites, as claimed, while also fully supporting open standards?

As the Washington Post reports and many predicted, Apple's (AAPL) 3G iPhone has some major “phone” issues. As a small form factor computing device it is without peers. Unfortunately, Apple overlooked that the two most important features for any mobile phone are call quality and battery life.

Apple chose to save some money by choosing Infineon’s (IFX) subpar baseband solution. They also didn’t learn from the many previously released 3G smart phones that have struggled due to disappointing battery life. For example, the Motorola Q had to basically double the size of its battery. The 3G iPhone should satisfy Apple’s core customers, but it is difficult to see widespread adoption before the battery and baseband are meaningfully improved. That should give AT&T (T) time to upgrade its 3G network to be competitive with Verizon (VZ) and Sprint (S). Although doubtful, it might also give competitors time to offer more competitive devices.

The past two days Xilinx (XLNX) and Altera (ALTR) have each reported quarterly results for their June quarter. The market reacted much more positively to Altera’s results sending the company’s shares up 12% yesterday. This is largely due to Xilinx long-term strategy still being fairly opaque. Overall both company’s results were quite good. Altera had a great quarter and in many respects appears better positioned. However, Xilinx may be building the ground work for a game changing announcement later this year.

Earlier this year I outlined how digital products are increasingly migrating to Xilinx and Altera’s FPGAs due to the strong platforms offered by these companies; enabling convergence in semiconductor design. Let me provide an update based on the June quarter results from these two highly profitable companies who control over 80% of the FPGA market.

Yesterday, Cash America (CSH), the leading pawn retailer and one of the leading cash advance merchants, dramatically raised its Q2 2008 guidance sending the stock up 16%.

[Cash America] expects second quarter 2008 earnings per share to be between 51 cents and 54 cents. The Company’s updated expectation for the second quarter of 2008 is now between 62 cents and 64 cents per share, up over 44% from 43 cents per share earned in the second quarter of 2007. Cash America will release complete second quarter results on July 24, 2008 before the market opens.

A funny thing happened to me on the way to the Apple (AAPL) store. I picked up the latest copy of Information Week magazine and read an article about the HP (HPQ) Voodoo Envy 133. Long story short, I’m no longer going to the Apple store. I’m waiting for the Envy.

Vista Woes

After a painful year running Vista (MSFT) I want need a dependable lightweight laptop with amazing battery life. So I did the once unthinkable: considered getting a Mac. In the past two weeks I’ve visited the Apple store twice to checkout and ask some questions about the Mac Air. I would have bought it the second time, but it was the South Beach store and it seemed the price was a couple hundred dollars higher than in Dallas (no surprise there).

The structure of the semiconductor market is going vertical due to the dramatic increase in complexity requiring semiconductor design integration.  End product companies are looking to integrated development platforms not the historical process of attempting to integrate various vendor products and designing components using multiple, disconnected design tools.  There is an acceleration of designers using Xilinx (XLNX) or Altera’s (ALTR) integrated platform for the next generation semiconductor products; creating positive revenue and margin tailwinds for these two companies.