Google I/O Recap: What Wall Street Thinks

SAN FRANCISCO (TheStreet) -- Google (GOOG) demonstrated that it intends to be more like Apple (AAPL), bringing together a more cohesive experience across Android and Chrome in an effort to not only boost engagement but keep people in the company's ecosystem, helping to drive search and advertising revenue.

Google's developer conference, Google /IO, showed off the company's latest initiatives, including a new version of Android (Android L). Google is seeking to bring its more than 1 billion active users per month to use the company's latest operating system in an effort to provide less fragmentation, a welcome sign for developers.

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Code-named Android L, the new operating system will have 64-bit compatibility, and will feature a new user interface named Material Design that will allow developers to make color, typography and grid changes across their apps. In addition, the company also announced L's ART performance, which will allow the operating system to support chipsets that use ARM Holdings' (ARMH) intellectual property, Intel's (INTC) -x86 chipsets, as well as chips from MIPS.

L, which is scheduled to ship later this year, will also have more security than past Android releases, and will allow developers to see how their apps affect battery life through something Google calls Project Volta.

Google didn't limit Android discussion to just smartphones, touching on the company's operating system for wearable technology, Android Wear. In addition to talking about the operating system itself, Google showed off several smartwatches that use the company's operating system, LG's G Watch, Samsung Gear Live, and the Moto360.

Google also gave an update on Android Auto, the company's operating system for cars. The company announced that it has added more than 40 partners to Open Alliance, a partnership between Google, car manufacturers and other companies to enable cars to become connected devices using the driver's smartphone.

Following much speculation, Google announced Android TV, which will let users watch live TV or stream content from apps such as Netflix (NFLX), Hulu, and others. True to the company's key missive, Google built a search experience into Android TV. Much like Amazon's (AMZN) Fire TV, Android TV has a gaming experience, allowing people to purchase games on Google Play, then play them on the big screen.

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