The two tech titans are moving into each other’s turf. Who will win the war? We check the charts to call this battle royale.
Google thinks it can learn a thing or two about selling stuff on the internet from rival Amazon.
According to today’s Wall Street Journal, Google’s Sergey Brin and Larry Page took a few pages out of Amazon’s books on e-commerce. According to the article, “at least two of the Google initiatives were spurred by previous moves by Amazon, people briefed on Google's plans says.”
Taking business ideas is as much a part of tech culture as giving a bar mitzvah speech in Klingon. Mark Zuckerberg’s Facebook must have annoyed Tom Anderson’s MySpace surely as much as MySpace annoyed Jon Abrams, the founder of Friendster.
Google’s revenues of $50 billion last year dwarfed Amazon’s $16 billion but Google execs believe Amazon has an edge in e-commerce. Well, in ideas, at least. The two projects said to be ripped off from Amazon were cloud-computing Amazon Web Services (“Google Compute Engine”) and industry commerce-focused AmazonSupply (“Google Shopping for Suppliers”).
One thing Google hopes not to copy is Amazon’s stock performance. This year, Google is up 22% while Amazon is up less than 2%.
So, will Google’s stock performance mimic Amazon’s as they move on their business models? Or is Google taking the best from the best and doing it even better?
We ask Abigail Doolittle, Technical Strategist at The Seaport Group, and JC O'Hara, Chief Market Technician at FBN Securities, to give their take. See the video above to hear their analyses.