Google Chromecast (Photo credit: Scott Beale)

Does Chromecast Make Google A Good Investment?

Even if you don't consider yourself particularly well-informed with regards to the stock market, the financial success and industry dominance of Google as a company is enough for most people to throw their money behind it. With this summer's release of Chromecast, however, many investors are wondering if they should change their stance on this investment opportunity. How will the release of Chromecast affect Google's viability? Will the Chromecast, the digital media screening adapter that is now the newest competitor of similar devices released by Apple, NetGear, and Logitech prove to be yet another reason to invest in Google?

Also known as a DMR, Chromecast can stream audio and video content from the internet onto your television, and its reception has been anything but indifferent. The chief investment officer at the Motley Fool has named it his No. 1 stock for 2013. Considering that some parties are hailing Chromecast as the death knell for the cable industry, it may well be the catalyst that will signal a huge change in the extremely lucrative world of media content distribution. And it's not as if this should be your only incentive: in the most recent quarter of 2013, the industry giant generated more than four billion dollars in cash flow. That's far and above Facebook's projected revenue, and it's cash at that. As mentioned earlier, Google is also distinguished by its dominance of the market. At sixty percent, its market share will make any investor think twice about the competition. And speaking of which, only one word need be said: Bing.