Google Follows Apple and Microsoft with Secret Home Entertainment System

Google (NASDAQ:GOOG) is reportedly working on a new “home entertainment system” with the ability to wirelessly stream music throughout a user’s home, the Wall Street Journal reports. According to a recent filing with the Federal Communications Commission, a test version of the device is presently being prepped for a trial run in the homes of about 252 Google employees. Looks like Larry Page is taking a page (no pun intended) out of Steve Jobs and Bill Gates playbook.

If the WSJ report holds true, the device in development would be the first ever to be developed, produced, and sold under the Google name. The device would reportedly utilize both home-based WiFi networks and Bluetooth to connect to other home-based electronics equipment. Bluetooth may be used to connect the device to a user’s mobile devices, including smartphones and tablets.

Still shrouded in a layer of mystery, the device is the brainchild of the Android development team. And because the Android Market has recently begun selling music and movies, some are speculating that the Google Mystery Box may prove to be more than just a WiFi stereo system. The WSJ‘s sources acknowledge that the device in development may be able to stream content other than just music.

Here’s how Google, Apple, and Microsoft are reacting to the news:

Google Inc. (NASDAQ:GOOG): GOOG shares recently traded at $606.98, down $4.48, or 0.73%. They have traded in a 52-week range of $473.02 to $670.25. Volume today was 1,016,990 shares versus a 3-month average volume of 2,998,690 shares. The company’s trailing P/E is 20.41, while trailing earnings are $29.76 per share.

Apple Inc. (NASDAQ:AAPL): AAPL shares recently traded at $496.25, up $3.08, or 0.62%. They have traded in a 52-week range of $310.50 to $496.75. Volume today was 12,034,537 shares versus a 3-month average volume of 12,613,900 shares. The company’s trailing P/E is 14.13, while trailing earnings are $35.14 per share.

Microsoft Corporation (NASDAQ:MSFT): MSFT shares recently traded at $30.63, down $0.14, or 0.45%. They have traded in a 52-week range of $23.65 to $30.80. Volume today was 17,407,895 shares versus a 3-month average volume of 54,300,800 shares. The company’s trailing P/E is 11.11, while trailing earnings are $2.76 per share.

To contact the reporter on this story: Jonathan Morris at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com