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The financial media's making a big deal out of Apple's (Nasdaq: AAPL  ) decision that it didn't need to renew its license with Google (Nasdaq: GOOG  ) to incorporate YouTube as a native pre-installed application for its upcoming iOS 6.

Is this really such a surprise? It's inevitable. Apple and Google are on a collision course for tech supremacy, and the two once chummy companies are now fierce competitors.

Both parties will be fine here. Google will have more control over the monetization and updating frequency of its application. Apple will be free to turn heads when it makes a bigger play for video entertainment without having to ruffle Google's feathers.

The future will be interesting, and if it means having to download a YouTube app on your iPhone 5 next month, so be it.

Briefly in the news
And now let's take a quick look at some of the other stories that shaped our week.

  • Universal Display (Nasdaq: PANL  ) climbed higher on Thursday after posting better-than-expected revenue and issuing robust guidance for the current quarter. Fears that the OLED specialist would be hitting some rough patches were clearly overblown.
  • Sirius XM Radio (Nasdaq: SIRI  ) posted encouraging quarterly results, bumping its adjusted EBITDA target higher in the process. Now would be a good time to laugh at all the skeptics who argued that satellite radio would be a transitory technology. Sure, everything is ultimately transitory, but Sirius XM Radio grows more popular with every passing year.
  • China's Renren (NYSE: RENN  ) saw its quarterly revenue pop 48% higher, but that was entirely the handiwork of its online gaming initiatives. Display advertising declined by a little more than 10%. Social-networking growth isn't always a lock.

Moving on
Now that you've had a glimpse of the past, let's delve into the future. A new report details the latest Rule-Breaking multibagger that has earned Fool co-founder David Gardner's attention. The report is free, and you're closer to it than you might think. Check it out now.

The Motley Fool owns shares of Apple, Universal Display, and Google. Motley Fool newsletter services have recommended buying shares of Google, Universal Display, and Apple and creating a bull call spread position in Apple. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.

Longtime Fool contributor Rick Munarriz calls them as he sees them. He owns no shares in any of the stocks in this story and is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Motley Fool has a disclosure policy.

Read/Post Comments (3) | Recommend This Article (3)

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Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On August 11, 2012, at 9:21 AM, southernbeachguy wrote:

    "Now would be a good time to laugh at all the skeptics who argued that satellite radio would be a transitory technology."

    HaHaHaHaHaHa...I am up 459% with Sirus over the past 4 years, You Bashers have been a thorne for all that time....You were/are Wrong! (I don't like to rub it in, but in this case, thanks for allowing me the space to do so). Sirus isn't finished, I think in 30 months or sooner it will go to $8. If the economy had been better and they could have gotten a Bank Loan rather than Borrow from Liberty a few years back, Sirus would have already been above $10.

  • Report this Comment On August 11, 2012, at 12:38 PM, bobbyk1 wrote:

    Enjoyed your laugh South.As a novice investor a couple years back Id buy 10,000 shares at 70 cents and sell at 73 cents.Allways felt comfortable because I thought it was a great product.Last bought at 1.88.

  • Report this Comment On August 11, 2012, at 9:14 PM, SimchaStein wrote:

    Media is the next big thing for Apple. The youtube move is just a 'pawn push', the back row chess pieces will come out soon.

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