Google’s Nest purchase should be ‘wake-up call’ for Apple
Google’s acquisition of Nest Labs, a maker of smart thermostats and smoke alarms, should be a “wake-up call” to Apple, says Global Equities Research analyst Trip Chowdhry. Nest, founded by former Apple product designers, was long seen in Silicon Valley as a perfect fit for Apple. But when Google swooped in and bought the company on Monday for $3.2 billion, Apple (AAPL) was never in the bidding, Re/code reported . Google’s Google Ventures was an early investor in Nest, giving it an inside track. ” Google (GOOG), under Larry Page as CEO, is creating new industries, which may result in multiple expansion for Google stock,” Chowdhry said in a research note Tuesday. Google’s purchase of Nest and its acquisition of eight robotics companies in the past six months “is a wake-up call to Apple’s (CEO) Tim Cook, (CFO) Peter Oppenheimer and Apple’s board,” Chowdhry said. With Nest, Google is looking to …