Google Inc. (NASDAQ: GOOG): The leader in internet search has just recently introduced Google Wave, which can be described as "a new tool for communication and collaboration on the web." This new product hopes to transform personal internet communications by organizing and modifying specific content to each user's preferences, and its real-time open source is used also through e-mail and instant messaging. Just introduced last month, it already has some influential believers. TechCrunch says, "Wave is what email would look like if it were invented today as Lars Rasumussen put it. Having seen a lengthy demonstration, as ridiculous as it may sound, I have to agree. Wave offers a very sleek and easy way to navigate and participate in communication on the web that makes both email and instant messaging look stale."

Microsoft Corp. (NASDAQ: MSFT): Despite missing out on the lion's share of internet search and social networking, this tech giant recently introduced Bing.com. This new age "decision engine" (it's just another internet search engine) is marketed though all their communication networks like Windows Live, SkyDrive, and hopes to gain market share quickly. In competition with the market leader, Google, it hasn't yet proven it has any distinct advantage, but its popularity has continued to surge since its introduction. PCMag reports, "Specifically, Microsoft's share of search results jumped to 12.1 percent for the week ended June 12, up from 11.3 percent the week before, and 9.1 percent for the week ended May 29. Overall, 16.7 percent of all Internet users surfing from home, work, or universities within the U.S. accessed Microsoft sites 16.7 percent of the time, up from 15.8 percent and 13.7 percent, respectively, for the two prior weeks."

Netflix Inc. (NASDAQ: NFLX): No matter how stellar their growth has been, the Wall Street Journal reports (subscription required), "Netflix's chief executive officer, Reed Hastings, thinks his core business is doomed. As soon as four years from now, he predicts, the business that generates most of Netflix's revenue today will begin to decline, as DVDs delivered by mail steadily lose ground to movies sent straight over the Internet." Making life a little easier for their 10 million subscribers, this online video rental leader has taken their customers request for immediate results to heart with their instantly streaming movie and TV features. Gaining a greater market share in DVD rentals, their profit margins also expand immensely while cutting back all postage and physical DVD costs.

Palm Inc. (NASDAQ: PALM): This once-struggling company has surged from $2 per share to $16 in the last year on hopes that their new phone, the Pre smartphone, is indeed the Apple Inc. (NASDAQ: AAPL) iPhone killer, or at least the Research In Motion Limited (NASDAQ: RIMM) BlackBerry killer as some in the press have suggested. "Most of the gadget press is obsessing over whether the Palm Pre is an iPhone killer, but they're asking the wrong question. We've been testing one for the past few days, and it's clear to us that the real target of Palm's new phone is the BlackBerry" says Jon Stokes, Directing Editor of ars technica. It is being talked about as a tech savvy alternative with features its competitors are currently lacking, such as a universal search and the ability to use multiple applications at one time. Unfortunately, Palm's track record shows an unsuccessful list of all-hype, disappointing gadgets.