Google Android and Google Shares: Analysts' Insight
Google plans to hold an event on Tuesday and many people are expecting the tech giant to unveil its very own Android phone—the Nexus One. How is this new gadget different from other smartphones and what does it mean for the company?
Jason Helfstein, executive director and senior analyst at Oppenheimer & Co., and Steve Weinstein, senior analyst at Pacific Crest Securities, shared their insights.
“From day one, Google has said that they were device agnostic,” Helfstein told CNBC.
“Their goal is to get the Android or even Chrome for the PC on as many devices as possible, so the consumer can have the apps.”
Helfstein has a $650 price target and an “outperform” rating on Google shares .
In the meantime, there have been debates over the pricing of the new phone. Some speculate the device may be given out for free, but Weinstein said that is unlikely.
“They want to push their Android operation system and in order to do that, they need to have good relationship with all the carriers," he said.
"So I don’t think they would want to disrupt that coming out of the gate.”
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Helfstein does not own shares of Google, but Oppenheimer & Co. makes a market in Google shares.
No immediate information was available for Weinstein or his firm.