Google Inc (NASDAQ:GOOGL)’s announcements at the developer’s conference have grabbed a lot of attention of the user community. Though the developers’ conference is all about developers, the opinion of investors and analysts is important as they are the ones that drive the revenue on the market. Let’s find out what they think about the announcements made.
Bob Peck of SunTrust was on CNBC yesterday and he was asked about his opinion on the announcements made by Google Inc (NASDAQ:GOOGL) during the developers conference. He feels that the announcements made were big ones. Peck said that with the announcement of the watch, TV and the car-related products, Google Inc (NASDAQ:GOOGL) is trying to attack the $14 trillion market identified by Cisco Systems, Inc. (NASDAQ:CSCO) as the “Internet of things”. Here is what he said:
“Google wants to be wherever you’re going to access the Internet.”
According to Peck, there are two main reasons for Google Inc (NASDAQ:GOOGL) to do that. Google might want to personalize things for a user and target with better ads. However, he feels that the most important reason would be Google Inc (NASDAQ:GOOGL) looking for the data of all those users across the globe. The company would then use that data across different devices to amplify the experience.
He said that there are competitors in this market with companies like Apple Inc. (NASDAQ:AAPL) and Amazon.com, Inc. (NASDAQ:AMZN). Peck added that Apple Inc. (NASDAQ:AAPL) is ahead currently, but with the predominant share of the phone market, Google Inc (NASDAQ:GOOGL) might go ahead. With Amazon.com, Inc. (NASDAQ:AMZN)’s Fire smartphone, the market has just got more interesting according to him.
He was then asked if the announcements made can help Google Inc (NASDAQ:GOOGL) gain the market share and he said that there a lot more ways to capture the $14 trillion market and he thought there would be more information on the Google glass which didn’t happen. Probably Google Inc (NASDAQ:GOOGL) needs more time to launch it for public and it might undergo few modifications. Here is what he mentioned about the lack of information on Google Glass:
“We’re hearing rumors that they are still going through revamping it, trying to make it cooler.”