Google Stock Rises Amidst Ramp in Production as Apple’s Performance Worries Samsung

Google Stock

GOOGL’s stock price is trading at $100.74 as of 12:01 PM EDT.

Samsung (OTCPK:SSNLF), which is Google’s biggest customer, is reportedly working harder on making its own gadgets because it is worried about the success of the iPhone and the fact that Apple (NASDAQ:AAPL) is losing market share to Samsung (OTCPK:SSNLF).

Information says that Google (NASDAQ:GOOG) (NASDAQ:GOOGL) is moving some of its product development and software engineering employees who were working on features for non-Google hardware to work on Google-branded products. The information was based on a Google internal memo and told about the company’s plans.

Potentially, Google’s ((NASDAQ:GOOG) ((NASDAQ:GOOGL) approach could include transferring certain personnel from departments like the Android Automotive operating system to work on Google-branded gadgets. Some executives have predicted that Android Auto might bring in $1 billion for the business compared to the company’s overall revenue.

The news source claimed that engineers from Google’s (GOOG) (GOOGL) TV software projects may also switch to work on Google-branded products. Seeking Alpha contacted Google for comment, but they did not react right away.

According to the report, Google (NASDAQ:GOOG) (NASDAQ:GOOGL) is not discontinuing support for Android devices manufactured by Samsung (OTC:SSNLF) and other hardware partners. Instead, it is hedging its bets against a further cut. This is true despite the greater focus on its own products.

Google Stock, Company Performance

Because it remains the smartphone’s default search engine thanks to a long-standing agreement between the two tech titans, Google still gets a sizable amount of cash from the iPhone. But in recent months, American lawmakers have begun to question that agreement.

Google showed off its new Pixel 7 phones, Pixel earphones, the company’s first wearable, and a Pixel tablet earlier this month. In the United States, Apple’s (NASDAQ:AAPL) iOS now powers more than half of all smartphones, surpassing Google’s Android, according to Counterpoint Research’s analysis from last month.

Early Tuesday trading saw a 1.4% increase in Google stock (NASDAQ:GOOG)(NASDAQ:GOOGL).

It was revealed last week that Google (NASDAQ:GOOG) (NASDAQ:GOOGL) was about to face antitrust charges over its advertising technology business from European antitrust authorities.

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