Google Shot Across The Browser

The latest photon torpedo has been fired in the battle to dominate the Internet. This time it’s Google on the offensive; taking aim at the enemy, Bill Gates.

Well, that might be a little dramatic, but Google is making a major attempt to chip away at the extreme dominance of Internet Explorer, which is Microsoft’s widely used web browser.

On Tuesday Google released it’s own browser called “Chrome” for computers running on Microsoft Windows and is making it available free of charge.

The move is an attempt to loosen Microsoft’s grip on the way in which people interact with their computers. Currently 3 out of 4 people use Internet Explorer when surfing the Web.

”I really hope you’re not buying Google because they made a free program that they’re going to give away over the internet,” exclaims Jeff Macke. It does nothing for the bottom line!”

Macke might be critical, but others think Google is making a smart move.” Piper Jaffray tech analyst Gene Musnter is one of them.

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“Browsers are critical, they’re the operating system of the Internet,” Munster explains “Google wants to change your overall web experience and I think ultimately Chrome will get more people to do more searches on Google.”

If Munster is right, the move should translate into dollars. "Google recognizes that they have to take control of their own destiny. If they don’t their massive market share in search could be jeopardized,” he says.

What’s the trade?

"I think you buy Google on this news," counsels Munster. "A year from now a lot of us will be using Chrome," he concludes.

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Trader disclosure: On Aug 28, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (WMT), (MSFT), (UUP); Macke Is Short (TM); Najarian Owns (ETFC); Najarian Owns (LEH) Put Spread, (LMT) Put Spread; Najarian Owns (SCHW) Call Spread, (LEH) Call Spread; Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (AAPL) And An (AAPL) Collar; Najarian Owns (XLF) And An (XLF) Collar; Adami Owns (C), (GS), (INTC), (AGU), (MSFT), (NUE), (BTU); Finerman Owns (GS); Finerman's Firm And Finerman Own (KALU); Finerman's Firm Owns (MSFT), (SUN), (VLO), (TSO); Finerman's Firm Is Short (BA); Finerman's Firm Owns (AAPL) Calls, (JCG) Calls; Finerman's Firm And Finerman Own (C) Leaps; Finerman's Firm Is Short (IYR), (IJR), (SPY), (IWM), (MDY)

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