Wall Street Daily

Google Gives Apple a Run for its Money

Ever since Apple (Nasdaq: AAPL) showed it could be done, it’s been the dream of every tech company to break into and dominate the hardware sector.

Morningstar’s Rick Summer explains:

“It worked for Apple. And that’s not always the best strategy… to do what’s working for somebody else. But by and large that is what folks are doing.”

So far Apple’s been unbeatable. Amazon got close with its Kindle Fire, but its sales have slowed.

But now it’s Google (Nasdaq: GOOG) that seems to have hit a sweet spot. Some retailers are already selling out of its Nexus 7 tablet.

“Here we have today in the summer of 2012, we are looking at a very overpowered seven-inch device and, in fact, the rumors are that Apple needs to and plans to respond with its own smaller tablet form factor device,” says Summers. “And Google has the Android advantage. The app developers are already on board. But they also follow the money.”

And that’s where things could get interesting.

“We certainly have seen Google be able to support the Android environment by doing that very thing. The Third player coming along being Microsoft. We certainly are seeing that development environment. Paying people to develop applications for it.”

But right now Apple is still king of the hill, and it’s an uphill battle for everyone else.