Google roundup: PT hikes, car alliance, Bitspin

Bernstein has hiked its Google (GOOG +0.3%) PT to $1,350 (a new Street high) from $1,200. UBS is only a little less optimistic, raising its PT to $1,300.

Google announces at CES it's partnering with GM, Honda, Audi (previous), Hyundai, and Nvidia (NVDA +1.3%) to create the Open Automotive Alliance, a consortium looking to bring Android-powered in-car navigation/infotainment systems to market. The first cars supporting the platform are expected by year's end.

There's no shortage of competition in the automotive computing space. Ford/Microsoft's MyFord Touch platform and Apple's Siri Eyes Free (supported by several automakers) are two prominent examples. But the OAA's strong industry backing, together with Android's developer support and Google's powerful apps/services ecosystem - Google Maps and Now should be particularly useful for in-car solutions - should make it a tough competitor.

Google's effort could be a negative for Nuance (NUAN -1.5%), which offers its Dragon Drive voice recognition platform for the automotive market, and PND vendor Garmin (GRMN -0.1%), which has been trying to sell advanced infotainment systems to automakers.

Google has acquired Bitspin, developer of popular alarm clock app Timely. Look for some of Timely's features and UI elements to appear in future Android releases.

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Comments (3)
  • Swisser998
    , contributor
    Comments (166) | Send Message
    As much as I like GOOG, this sort of irrational exuberance for the stock seems like it is calling for a top.
    6 Jan 2014, 02:04 PM Reply Like
  • tomlos
    , contributor
    Comments (1300) | Send Message
    Good, looking to establish a long long term position in the next couple of months. Would be nicer closer to $1,000.
    6 Jan 2014, 04:57 PM Reply Like
  • sl100
    , contributor
    Comments (112) | Send Message
    This why the feds and gov should not have helped the financial companies so much. These guys have no shame in promting what they own instead of giving good advise.


    -- GOOG has Mkt Cap of 375Billion 3rd largest company after apple and XOM.
    -- Insiders are selling like crazy, largest insider sale than any other company close to 30-40Billion. They need to sell the inventory the insiders are selling so the guys are trying pump the price targets, just likel when apple was at 700.
    -- Only place it makes Revn is internet adv, and that slowing down. Mobile adv has too much competition.
    -- PE is 34 currently very very high given that its growth is slowing down.
    -- Fidelity is the largest owner and they are also slowing getting out if the stock, so looks like they are trying find buys to dump. These guys manipulate the stock during earning and low volumes. Last Year most of the gain in GOOG came in few days one of those days was last earning 150$ rise which is so obvious, SEC should be investigating Fidelity.
    -- Its up nearly 60% in one year.
    -- 401K plan and investors should take the money and run given the market is up 180% in 5 short years, this normally take decades. Move to Cash or Money Market finds.
    6 Jan 2014, 08:30 PM Reply Like
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