On Wednesday Google (GOOG) held its annual I/O developers conference, similar to a keynote address, to unveil their newest upgrades and products . Following the presentation GOOG gained 3.25% to close at $915.89. Part of this increase in share price is due to the 48 billion apps installed from Google Play that revenue per user has increased 2.5X since last year, and because Android users have increased 125% to 900 million.
Use the Turbo Chart to see how GOOG compares to the Nasdaq over the last 6 months:
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Here’s what you need to know about the newest innovations:
The popular Google Maps is receiving its biggest upgrade since its inception. New to maps is an integration with Google Earth which allows the user to see something as precise as the street view in their local city to as grand as the earth within the Milky Way.
But the biggest addition to Maps will be the new user-friendly atmosphere. Maps will now be customized in real time automatically by using data recorded in search and Maps itself. For example, if I’m at Kapitall and want to get a burrito for lunch I can click on my favorite burrito place in Greenwich Village and Google Maps will show me related results all over New York City. Not only will all the local burrito spots pop up, but I could also read reviews by simply highlighting the restaurant icon.
Maps will take note of your favorite and most visited places and tailor a map around that information. What that means is that when travelling to foreign locations Maps will be able to provide recommendations based on your user preferences and past habits.
Google Play is the online content store from Google that services music, tv shows, movies, magazines, apps, and books. A new service from Play will be called Music All Access which would allow users to access unlimited content from their mobile device or desktop via a stream rather than a download. The platform will require a monthly subscription of $9.99. This is a direct competitor to Spotify, Pandora Radio (P), and iTunes (AAPL). Through Play users can now purchase music just as they did before, or just stream it.
Play will also offer a new education based section called Play for Education. This looks to compete with Apple’s iTunes U which topped one billion downloads earlier this year. Play for Education will provide educators and students apps tailored specifically by age, education level, and subject.
Google also plans to try and take some market share away from Apple with Now, a competitor to the voice recognition tool Siri (read more on that here). There will also be a new game center for Android which will record scores and keep track of rankings and achievements.
Interestingly, there's not a lot of news on the Goggle Fiber although that began marketing less than a year ago.
-Ryan Horch and Alex Federbusch
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