A report released recently by Forrester says that Google Inc (NASDAQ:GOOG)’s upcoming Google Inc (NASDAQ:GOOG) Glass will be as popular as the iPhone — so is that your cue to buy this stock?
It’s easy to get excited about a product with the potential to be as groundbreaking as the iPhone, which took the world by storm in 2007. Google Inc (NASDAQ:GOOG) Glass seems like a revolutionary device. In fact, the Forrester report stated that 21.6 million consumers online would wear the product, which is about 12% of the population. I suspect the final number would be more if the device catches on and becomes a fashion statement, kinda like the iPhone.
Google Inc (NASDAQ:GOOG) Glass is a set of augmented reality eyewear that can take photos, record videos, get directions, chat, browse the Internet, and more. The glasses are slated to be available for purchase sometime in 2014, according to CNet.
While the appeal of the product is still speculatory, the potential breakthrough is worth picking up shares of Google Inc (NASDAQ:GOOG). After all, the company is also working on self-driving cars and balloons that could facilitate Internet access from anywhere in the world. Not to mention that the firm already has an angle on dozens of components of modern technology. Does the Internet ring a bell?
Google is also locked into international expansion, and announced on June 20 the opening of Android Nation retail stores in India. That could trigger further growth in the company’s revenue, which has already shot up over 112% over the last four years. And with a price-to-earnings ratio of 26.8 against the industry average 21, investors believe Google will experience a moderate amount of growth in the years ahead.
Google Inc (NASDAQ:GOOG) stacks up against competition
What’s going on with Apple Inc. (NASDAQ:AAPL): Either Apple Inc. (NASDAQ:AAPL) isn’t disclosing new technology that it is working on, or it isn’t on the verge of any major breakthroughs. Since the iPad, the firm hasn’t released anything substantial, other than upgrades to its flagship devices. Not much has happened with Apple TV, which many thought would replace conventional television with a new way of browsing shows online on the gadget. Rumors about the capabilities of the TV that were milling about in 2011 didn’t prelude a single significant breakthrough.