Google Tunes? Market analysts talks about an iTunes competitor

Google Tunes? Market analysts talks about an iTunes competitor

Search engine giant Google is increasingly entering into the software market with a spate of launches like the Google Desktop, Google Earth, and Google Talk. The next software product in this series of launches might be the Apple iTunes competitor Google Tunes as per some expectations from the market analysts.

Google recently entered the hot market of video searching and downloads through the launch of Google Video Store. This service enables the web users to upload their own video files for sale on Google’s online web store. This makes it more lucrative for the company to launch their own offline music and video player to let the users manage their offline libraries.

Bear Stearns is one of the analysts who have predicted that the search engine company might launch a beta version of such an application in the coming months. Bear Stearns wrote in a research statement: “We believe that Google is in the midst of creating its own iTunes competitor, which we’ve dubbed ‘Google Tunes’. We think this is a logical step, now that the nascent Google Video product has been introduced.”

The market researchers have also put a $550 price target on the stock of Google, which has seen a phenomenal rise in its value since its launch last year.