The iPhone 5 launch on Wednesday is sure to be the most important event for tech investors this year. The Motley Fool will host a live chat where our top tech analysts will answer your questions and break down what the announcement means for Apple and investors everywhere. Swing by at 12:45 p.m. EDT this Wednesday for all of your coverage of Apple's next big announcement.

Before Apple (Nasdaq: AAPL) starts hogging the spotlight, Google (Nasdaq: GOOG) has managed to get some attention itself. It has created a YouTube app for iPhones and iPads addressing the fact that the video site was booted from the built-in applications in Apple's operating system.

The two tech giants' previously failed to renew a licensing agreement. Apple reportedly wanted the right to design the built-in application, which wouldn't allow any ads to be shown on videos. Google is opting instead to retain its own design rights, making a YouTube app that will be available in the iTunes store for free -- and will feature ads -- thereby allowing Google to monetize its video player.

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Fool contributor John Divine owns shares in Apple. You can follow him on Twitter @divinebizkid and on Motley Fool CAPS @TMFDivine.

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