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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.
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