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TheStreet Open House

Quick Take: Google Tackles TV, Again

Stocks in this article: GOOGAAPL

NEW YORK ( TheStreet) -- On Thursday Google (GOOG) announced several products, including a potential rival to Apple TV': the Chromecast. Breaking down the effect it may have were TheStreet's Debra Borchardt and Chris Ciaccia.

The Chromecast will retail for $35 and, according to Ciaccia, this is what's going to make it so successful. The little device, which is about the size of a flashdrive for a computer, hooks up to a television and instantly connects it a smartphone or tablet.

The gadget also goes hand in hand with Google's release of its Nexus 7 tablet. The tablet is aimed squarely at taking market share from lower-priced tablets as well as Apple's (AAPL) iPad Mini.

With a starting price tag of $229, Google's product is significantly cheaper than the iPad Mini's starting price of $329. Ciaccia added Google isn't trying to make money on its hardware, but instead is banking on software, services and search to drive revenue.

While the Chromecast might become a head-to-head rival with Apple TV, will it also take on the cable companies? "No," according to Ciaccia.

He said that while he expects the product to be very successful for Google and an alternative to cable for some consumers, it will have little to no effect on the cable companies and their prices.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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