Google, Inc. (GOOG) recently started inviting users of its All Access music subscription service to buy its Glass wearable device priced at $1500.
Google Glass is a wearable computer with an OHMD (optical head-mounted display) that is being developed as a part of the Project Glass research and development project.
Worn like a pair of glasses, the Google Glass can be connected to smartphones to convey messages and make phone calls. Additionally, Google Glass can communicate with the Internet via natural language voice commands.
These invitations happen to be an integral part of Google’s efforts to create awareness about its Glass, which, in turn, will increase the number of buyers going forward.
These invitations also coincided with the introduction of Google Play Music on the Glass device. Google Play Music All Access is a specialized service that enables users to stream music from the Internet to their respective devices.
Going by the average consumer’s increasing interest in wearable technology, we believe that Glass will definitely boost the revenues of the company going forward.
Google is a market leader in online advertising and has been trying to explore various ways to diversify its revenues and fight competition. Acquisitions have been a key catalyst over the years, as Google continues to acquire smaller companies with specialized technology to boost product offerings.
Google reported gross revenue of $14.89 billion in the third quarter of 2013, up 5.6% on a year-over-year basis. The company has expressed its intention to increase investment in its core products in the future, which we believe will boost its market share in the long run.
Currently, Google has a Zacks Rank # 2 (Buy).Other top-ranked stocks in the sector include Aol Inc. (AOL), Facebook, Inc.(FB) and Blucora Inc. (BCOR), all with a Zacks Rank # 1 (Strong Buy)
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