Wednesday, March 12, 2014
Michael Liedtke / The Associated Press
SAN FRANCISCO — For Google CEO Larry Page, happiness is a warm computer.
"Technology should do the hard work so people can get on doing the things that make them happiest in life," Page told a crowd of 6,000 software developers and entrepreneurs who flocked to San Francisco Wednesday for the opening day of Google's annual showcase for its latest breakthroughs.
In the latest display of its technological prowess and sweeping ambition, Google is rolling out another wave of products and services that will test how much more people want computers to control their lives and enhance their perceptions of reality.
This year's event mostly consisted of upgrades to existing Google services that have already become daily habits for millions of people -- one of Page's main goals. The new features assume most people want more help managing their lives from Google's brainy engineers and the sprawling data centers that house its millions of computers around the world.
Investors are increasingly becoming convinced that Google's tentacles are going to grasp more moneymaking opportunities as its dominant search engine and ancillary services become more pervasive on the mobile devices.
Google already has an enviable perch on the smartphones and tablets that have become people's constant companions. Its Android software has been activated on 900 million devices worldwide. In the first quarter of this year, Android devices held a 74 percent share of the global smartphone market followed by the Apple's iPhone at 18 percent, according to the research firm IDC. Android also led the tablet market with a 56.5 percent share versus 40 percent for Apple's iPad during the first quarter, according to another research firm, Gartner Inc.
Google's products and services have also made major inroads among users of the iPhone and iPad, despite Apple's recent efforts to cast aside some of Google's products.
In a show of Wall Street's faith, Google's stock surged past $900 for the first time Wednesday to propel the company's market value beyond $300 billion for the first time. Google shares gained $28.79, or more than 3 percent, to close at $915.89. The latest milestone came less than three months after Google shares surpassed $800 for the first time. The stock has increased 55 percent since Page, Google's co-founder, succeeded his mentor, Eric Schmidt, as CEO two years ago.
In contrast, investors have become exasperated with rival Apple's lack of breakthrough products since its visionary CEO Steve Jobs died in October 2011. Apple's stock has plunged by nearly 40 percent since last September, leaving the shares at $428.85. Still, Apple's market value remains nearly $100 billion higher than Google's.
Page, 40, seemed to share some of that frustration Wednesday in a rare 45-minute appearance that capped a 3½-hour presentation of Google's latest products.
Without mentioning Apple by name, Page said more companies need to develop products "outside their comfort zone." It's something that Page says he has also insisted on Google doing since he started the company with Sergey Brin in 1998. Some of the gambles, like expansions into digital mapping and email, have paid off. Others, such as creating an alternative to Wikipedia and a social networking service called Buzz, have been flops.
(Continued on page 2)