The iGoogle in 2010? (GOOG, AAPL, YHOO, MSFT, MOT)

The iGoogle.

The Googlet.

The Googbook.

Whatever you call it, Google (NASDAQ: GOOG) is apparently working on their counter to Apple (NASDAQ: AAPL) and its latest creation, the iPad.

The two companies have not always seen eye to eye, but Google's latest venture has less to do with Apple and more to do with the search engine giant's insatiable urge to enter - and dominate - every market possible. It took on Yahoo (NYSE: YHOO) in the search engine market and won; it took on Microsoft (NYSE: MSFT) in the internet browser department and carved out a nice piece of global market share for a brand-new browser, as well as its Chrome OS; and it took on both Apple and Microsoft with the release of its Android operating system for mobile phones that has been wildly successful.

This move by Google, then, isn't really surprising. Neither is the prospect that they may actually release a superior product.

Google doesn't necessarily excel at creation as much as it does innovation. So does Apple. But Google has shown an uncanny (some would say Apple-esque) ability to identify and fulfill a market need with clever, sophisticated, and attractive innovations. Plus, while Apple's iPad has the full Apple library of apps at its disposal, Google has a far superior lineup of Web applications. Not to mention the fact that Google doesn't have to learn how to construct a piece of hardware, just like they did not have to learn how to construct a cell phone with the Droid (that was Motorola's (NYSE: MOT) job).

If Google can approach the iPad's assumed functionality while undercutting it significantly in price, then I think its as-of-yet unnamed device (the iGooglet?) will turn out a winner.

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