Google's (GOOG) acquisition of MMI is of critical importance, argues Goldman, in light of the...

|By:, SA News Editor

Google's (GOOG) acquisition of MMI is of critical importance, argues Goldman, in light of the company's weak tablet position. Mobile queries only account for 20% of searches right now, but are growing 4x-5x as fast as PC searches, and that means Google's revenue-sharing payments to Apple (AAPL) for Mobile Safari queries are a major threat to its margins - especially given how the iPad dominates tablet web traffic, and tablet browsing is rapidly catching up to smartphone browsing. (also)