Analyst: ‘Google Tunes’ could be next iTunes competitor

Google may be looking to launch a digital music store that would compete with Apple’s iTunes, according to one Wall Street analyst. Robert Peck of Bear Stearns predicts that the search engine giant will roll out such a service within the next six months.

“We believe that Google is in the midst of creating its own iTunes competitor, which we’ve dubbed ‘Google Tunes.’ We think this is a logical step, now that the nascent Google Video product has been introduced,” Peck wrote in a research note sent to clients Thursday. “We would expect Google to rollout a Beta service within 3 to 6 months. We note that Google has not confirmed our expectations, and that our thinking is based on Mosaic theory. However, we do think this fits with Google’s recent moves and its ultimate goal of organizing the world’s information.”

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