Promoting YouTube was a key hole in Apple’s video strategy, Misek said. By equipping iPhones with YouTube or Google maps, Apple has been essentially putting revenue into Google’s pockets, which could then be used to develop Motorola and Android products, thus hurting iPhone and iPad sales.
“So they had no choice — they had to do this,” he said. “The war escalated, and it’s taking it on a new front now.”
One expected boon to revenue in Apple’s fiscal first quarter is the upcoming launch of the iPhone 5, which Misek thinks will be the biggest iPhone launch in history.
Despite the rivalry between Google and Apple, Misek remains positive about the Menlo Park company.
“I think it’s one of the better names certainly to own, but Apple is our top pick,” he said.
Gene Munster, a senior research analyst at Piper Jaffray, also encouraged investors to take a bite out of Apple stock.
“General take is you’ve got to own it,” he said. “People are going to have to be long for the iPhone 5 and what’s ultimately beyond iPhone 5.”
—By CNBC.com's Katie Little; Reuters contributed to this report. Follow Katie Little on Twitter @katie_little.
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