Wednesday, October 28, 2009

Google's Free GPS Service Crushes Garmin, TomTom Shares (GOOG, GRMN, NOK, AAPL)

"Investors fled GPS-makers' shares today after Google announced it would offer free turn-by-turn GPS directions in its Android phones and as a service for other mobile phones, like Apple's iPhone.

Garmin shares dropped 17% and TomTom shares dropped 21%."


1 comment: