Google (NASDAQ:GOOG) extends services in the auto industry, ties up with Kia
Google Inc. (NASDAQ:GOOG) is on same track as Nokia Corporation (ADR) (NYSE:NOK) and Apple Inc. (NASDAQ:AAPL). The search engine giant is seeking ways to increase its presence into the automobile industry, today declaring a tie up with Korean car maker Kia Motors to add its Google Maps and Place services into Kia’s new UVO eServices telematics system, releasing in new models later in 2013.
The application programming interface of Google will run systems installed in Kia’s new 2014 Sorento CUV models, allowing car owners with turn-by-turn directions but also supporting with the location of nearby points-of-interest. The Sorrento is scheduled to be available for sale in Q1 2013.
UVO smartphone app has already been developed by Kia, which is ironically only available for iPhone at launch, which is intended to connect the Sorrento’s telematic system using its new Send2Car feature, beaming over mapping data from the phone directly to the car. The Android app is projected to be rolled out in the second quarter.
Where the Google (GOOG) stock stands now?
The stock closed at $707.38, up 7.37 points or 1.05% from previous close and at a distance of +0.64% from 20-day simple moving average. In the last trading session, the stock’s price moved 8.77% above its 200 day moving average, changing hands as low as $696.00 per share. The stock is currently trading 2.88% up its SMA 50.
The share price performance over the last 12 months
The percentage change in the price over the past fifty two weeks remained at +6.31%. The price range in the same period had a highest hit of $774.38 on Oct 05, 2012 while lowest level during that period was $556.52 on Jun 14, 2012. The 1-year target price estimate, which is the median price target, as set by analysts covering the stock is $800.00. The stock for 2012 gained 10.58%.
How the market shifts persuade this stock?
This stock is more risky when compared to the shifts in the equity markets as its beta value is standing at 1.08. To measure price-variation, we found this stock’s volatility over a week period was 1.42% and for the month was 1.61%.
Need expert advice?
The analyst mean recommendation for this week has been 2.0, same as was in the last week. The price target of $675.00 was the lowest while the highest price target was set as $910.00, according to 34 analysts surveyed by Thomson Reuters.