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Will Google's Chromecast Give Rivals a Run for their Money?

Two years back, Google Inc.GOOGL rolled out Chromecast, the streaming dongle, which went on to become a major hit. While innovative features have been added to it, everyone has been looking forward to a true upgrade.

And finally, at the Google Nexus event, two Chromecast devices for television and audio were rolled out.

The new Chromecast comes with a built-in HDMI cable and is circular in shape. Currently available in 17 countries, the device offers three color options - yellow, black and red.

Competition

Though essentially similar to Apple AAPL TV, Google's Chromecast connects the mobile device to the TV. While the Apple TV device can store many applications, Chromecast depends on the ones installed on the phone.

Priced at just $35, the new Chromecast is more affordable. Google has already sold about 20 million units, and the new line is meant to stand out among the stick-shaped products from rivals Amazon.com Inc. AMZN and Roku.

The "Chromecast Audio" can be plugged directly into speakers and play music from applications like Spotify, a streaming service that Google partnered with recently.

Going Forward

One thing is for sure - tech companies are putting their best foot forward to gain traction in the booming video streaming and home automation segments. The battle is just heating up, and will be an interesting one for investors.

Google currently holds a Zacks Rank #2 (Buy).

Another stock in the same space worth a look is Stamps.com Inc. STMP which sports a Zacks Rank #1 (Strong Buy).

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AMAZON.COM INC (AMZN): Free Stock Analysis Report

APPLE INC (AAPL): Free Stock Analysis Report

STAMPS.COM INC (STMP): Free Stock Analysis Report

GOOGLE INC-CL A (GOOGL): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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