Top Five Legal Issues for the Cloud: Forbes Additionally, advertising on the Android continues to increase. According to advertising firm AdMob, U.S. ad impressions on Android devices have increased to 42% in February from 27% in November and worldwide ad impressions have increased by 2%. What makes Google even more appealing on this front, is that it appears to be taking advertising share from Apple's ( APPL) iPhone, which has seen declines of ad impressions to 44% from 55% during the same time frame. Furthermore, Google's mobile phone can be found on Verizon ( VZ), Sprint ( S), AT&T ( T) and T-Mobile's platforms. A second factor that is likely to support Google's strength is its upgrade to its online package of word processing and spreadsheet programs, Google Docs. The changes, which were introduced on Monday, include several editing tools for word processing and quicker ways to fill cells in spreadsheets, which will enable it to directly compete with Microsoft ( MSFT) Office. The beauty behind Google Docs is that all of its applications are hosted over the Internet, whereas Microsoft's software is typically installed on individual's computers or workspaces. Another factor likely to bolster Google's attractiveness is the recent talk about developing a tablet device based on its Android operating system software. The New York Times recently reported that Google has been working with numerous hardware makers to construct the perfect tablet device to compete against Apple's iPad and the Amazon ( AMZN) Kindle. Lastly, from a fundamental perspective, Google is highly attractive. The technology giant is trading at 18 times forward earnings, a far cry from the average price-to-earnings ratio of 29 seen in 2008. From an earnings yield perspective, Google's forward earnings yield is 5.5%, an attractive yield. To further bolster its appeal, the Mountain View, Calif. firm has a hoard of cash on its balance sheet.
A combination of the aforementioned enabled the stock to close at $572.73 on Monday. Some other ways to play Google include the following:
- First Trust Dow Jones Internet Index (FDN), which boasts Google as its top holding. FDN closed at $27.51 on Monday.
- iShares Dow Jones US Technology (IYW), which allocates nearly 7% of its assets to Google. IYW closed at $59.84 on Monday.