Reportedly, PC giant Hewlett-Packard (NYSE: HPQ) is "studying" Google's (NASDAQ: GOOG) Android operating system as it tries to determine if the software will work well with its computers. HPQ is examining the system's computing and communications functions, although a company spokeswoman would not comment on the possibility of HPQ shipping Android-powered products.If we see an Android alliance between the two companies, HP could sell netbooks (miniature laptops) pre-loaded with the Android. Such an alliance could be a boon for Google, as it has tried to convince PC makers to load the Android in notebooks in an attempt to allow users to share data between netbooks and phones.
According to BusinessWeek, Google is attempting to have the Android used in set-top boxes and car navigation systems. What does this mean for you and me? If you were to purchase a "Google-ready" cable box, you could have YouTube videos delivered to your television. Nothing like groin shots on a 42" screen, right? Such a move could be a major boost for Google, as it tries to expand its brand beyond search.
Technically, Google shares are continuing to battle with the $350 level. The stock has backed away from this level on various occasions since the start of the year, so the shares could be in for a long battle. The good news is that $350 could act as support should the stock finally establish itself north of the level.
HPQ has performed admirably throughout the past month. The stock has backed off its best performance a bit, but could still net some gains, especially if the economy has turned a corner. Will the stock be able to ascend to its earlier yearly highs? It depends on whether or not it can topple the $34 level, then the $36 level, then the $38 level. The stock has backed away from the $34 level once in the past month, let's see what April has in store.
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