Direct from Google headquarters and liveblogged by John Paczkowski, Google unveiled its Chrome OS. This is the first of three segments:

Google did not offer a beta of the new operating system today. Vice President of Product Management Sundar Pichai says Google is a year away from an official launch. The company, however, is making Chrome OS code available today.

According to Pichai, Google’s Chrome browser has some 40 million users one year after launch. He boasts about the browser’s speed, noting that it handles Javascript 39 times faster than Internet Explorer. There will be three more big Chrome announcements in the future: Chrome for Mac, Chrome for Linux and the debut of Chrome Extensions.

Google’s goal is to ensure that Web applications function as well as desktop apps, Pichai explains. The company is figuring out a way for Web apps to safely take advantage of the operating system in the same way that desktop apps do. A few examples: Graphics, video/audio applications, real-time communication, notification and local storage.

“By 2010 we expect to have all these things built into Chrome.”

The advent of Chrome coincides with a perfect storm of converging trends, Pichai notes, including the tremendous popularity of netbooks during the recession, the growing acceptance of cloud apps and the rapid innovation in mobile devices. Smartphones are becoming more like laptops, he adds, and laptops are becoming more like smartphones. Is there a better level of computing available for these devices? There is, says Pichai, and he believes it is Chrome OS.

With V-Block, clients can build “private clouds” from which to draw computing resources. It’s an ambitious effort designed to capture a bigger piece of the IT infrastructure market by offering large unified systems designed to handle most of a business’s computing needs. As Cisco CEO John Chambers noted earlier today, the goal here is to more effectively target the market for cloud infrastructure and services, a market that could be worth as much as $350 billion.

It’s also a market loaded with with fierce competitors, IBM (IBM) and Hewlett-Packard (HPQ) among them. Not that this worries Chambers much. “Will this change the industry?” he asked during a conference call today. “Time will tell. I believe that it will be the partnership that people will look back on and say it changed the data center and clouds forever.”

The new iMacs boast LED-backlit 21.5- and 27-inch widescreen displays in an edge-to-edge glass design and all aluminum enclosure. They’re available with Intel (INTC) Core 2 Duo processors starting at 3.06 GHz, and Core i5 and i7 quad-core processors for even better performance. The low-end model is priced at $1,199, the same as the past generation, but its high-end sibling is now $200 cheaper, at $1,999.

The new MacBook features an 13.3-inch LED backlit display, a multitouch trackpad, and a $999 price tag. Though still housed in white polycarbonate plastic, it features an updated unibody design borrowed from the MacBook Pro.

The successor to the Mighty Mouse, Magic Mouse, eliminates mechanical buttons, instead, employing the same multitouch surface found on the iPhone, iPod touch, and Mac notebook trackpads, allowing users to navigate their desktops with simple gesture commands.

Accompanying the Magic Mouse is a a new Apple Remote. It’s got a new design and is, predictably, housed in aluminum.

Finally, Apple (AAPL) also updated the Mac mini. While its design is largely identical to that of its predecessor, it offers far more storage. Starting at $599, the entry-level Mac mini features a faster 2.26 GHz Intel Core 2 Duo processor and 2GB of DDR3 1066 MHz memory, a 160GB hard drive, five USB 2.0 ports, FireWire 800, Nvidia GeForce 9400M integrated graphics and a SuperDrive.

There’s also a new $999 Mac mini that’s specially configured with a Mac OS X Snow Leopard Server. It’s outfitted with two 500GB hard drives for a total of 1TB of server storage.

Quite a refresh and one analysts are already crowing about. In a bulletin released after the announcement, Piper Jaffray’s Gene Munster said Apple’s new machines will undoubtedly improve the company’s prospects for the December quarter.

“We expect the new iMacs, and to a lesser degree the new Mac minis, to help the desktop category rebound in the Dec. quarter,” Munster wrote. “In other words, the headwind that existed in the Sept. quarter due to aging Mac desktops has now turned into a tailwind for Mac units in the Dec. quarter….Bottom Line: Street Mac numbers may also be conservative if positive trends continue coupled with new Macs in the quarter.”

Both debuted this morning, along with a Web-based storage and media-sharing service called My Phone. And while they’re certainly better than Microsoft’s offerings to date, the market seems unimpressed. Said Gartner (IT) analyst Carolina Milanesi: “There is nothing in this version that makes drastic changes that will get people to choose Windows who didn’t before.”

And, indeed, that appears to be the case. WinMo 6.5 is very clearly a stopgap on the path to 7.0, which is to be released next year. “Windows Mobile 6.5 isn’t just a letdown–it barely seems done,” Gizmodo’s John Herman complains, adding that its underpinnings reveal “an OS that hasn’t been fundamentally changed in years, and which bears a strong resemblance to Windows Mobile 6.1, and a startlingly not-weak resemblance to PocketPC.”

A startlingly not-weak resemblance to PocketPC. Not the comparison Microsoft (MSFT) was hoping for, I’m sure, especially given the OS’s decidedly flashier competition. But likely about all we could expect when even the company’s own executives are saying privately and publicly that they wish the OS was further along.

So 6.5 is really just a placeholder to keep Microsoft in the game–and just barely. As Windows Mobile Senior Product Manager Greg Sullivan told TechFlash, “It’s not the destination for us, by any stretch of the imagination, it’s a step along the way.”

Priced at about $36 per user per year, iNotes is cheaper than Google’s (GOOG) Apps Premier Edition offering, which costs about $50 per user per year. And while it might not offer as many bells and whistles (IBM’s 1GB of storage is significantly less than the 25GB that Google provides), IBM (IBM) claims it more than makes up for it in security, reliability and privacy.

“We run the world’s most mission critical systems for banks, telcos and utilities,” said Sean Poulley, IBM’s vice president of online collaboration services. “It’s fair to say we’re pretty trusted….Candidly, Google has shown itself to be weak….There is a world of difference between supporting a consumer-grade service and a business-grade service. We’re bringing business class services and support with mission critical reliability at a price lower than the competition.”

“No, we’re not going to spin [MySQL] off,” Oracle CEO Larry Ellison told attendees of a Churchill Club event in Silicon Valley Monday evening. “We are keeping everything. We’re keeping tape. We’re keeping storage. We’re keeping x86 and SPARC. And we’re going to increase investment in all of them.”

In other words, technologists worried about Oracle’s (ORCL) intentions for MySQL and other Sun (JAVA) systems need to relax.

“Sun has fantastic technology. We think it’s got great microprocessor technology–it needs a little more investment, but we think it can be extremely competitive. It’s got the leading tape archival systems. We think the Open Storage on their new disk system is absolutely fantastic. Java speaks for itself. Solaris is overwhelmingly the best open-systems operating system on the planet….Sun has been a national treasure for the last couple of decades.”

And it’s not going to be getting one anytime soon, either, despite rumors that Microsoft is working on one and courting developers to port their iPhone apps over to it. Which is not to say that the company isn’t building an answer to Apple’s App Store–it is. Redmond is just building it for Windows Mobile, not Zune.

“We’re trying to get out of the business of building similar things in the company that don’t work together, and the Windows Mobile team is tackling the challenge of a mobile apps marketplace right now,” Zune marketing manager Brian Seitz told TechFlash. “We don’t necessarily line up perfectly with that, to take advantage of whatever ends up coming out of that from the Zune HD standpoint, but down the line if there’s a way that we can plug into what they’re doing, I’m sure we’ll look into whether that makes sense for the business.”

But by then, of course, it will be too late. Arguably, it’s too late already. As Apple gleefully noted during its annual music event last week, NPD pegs the company’s share of the portable media device market at nearly 74 percent. Meanwhile, Microsoft’s tops out at an estimated 1.1 percent.

Raising that share was already a Sisyphean task for Microsoft (MSFT), and it has only become more difficult now that Apple (AAPL) has introduced not just a new iPod nano with a built-in video camera and FM radio, but also a more inexpensive iPod touch.

Microsoft is pricing the 16GB Zune HD at $219.99 and the 32GB version at $289.99. But you can get a 32GB iPod touch for $299. And you can get an 8GB touch for $199. Now, granted, the touch offers only half the storage of the 16GB Zune HD, but it supports the iTunes App Store. And if you really want that extra 8GB, you can always buy an iPod nano, which shoots video and at $179.00, is $30 cheaper than the Zune HD.

Weighed down by heavy restructuring charges, Seagate reported a loss of $81 million, or 16 cents a share, compared to net income in the same quarter last year of $160 million, or 32 cents per share. Analysts surveyed by Thomson Reuters had expected, on average, a loss of 10 cents per share, excluding special items.

Ugly. And it gets worse. For the year, Seagate said it lost a horrifying $3.09 billion, or $6.32 per share.

But the situation is improving–at least, Seagate hopes so. Looking ahead, the company sees revenue of $2.4 billion to $2.6 billion in the current quarter, better than it had predicted in June. “We are…seeing signs that the storage markets are improving,” Seagate CEO Steve Luczo said in a statement. Later, during a conference later, he added, “We are approaching the September quarter cautiously.”

Sacconaghi believes that Dell (DELL) isn’t interested in a “transformational” acquisition, though its interest in the handset market might suggest otherwise. Rather, the company is mulling the acquisition of small- to medium-sized enterprise-related companies.

“While there has been speculation that Dell could look to acquire a handset company and we continue to believe that a consolidation play in the PC space could make sense for additional details, Dell appears focused on boosting its enterprise business by acquiring small to medium sized companies with strong margin profiles and higher levels of recurring revenues,” Sacconaghi writes.

Which companies? Software, services or storage and networking outfits, most likely, says Sacconaghi. Companies like Perot Systems (PER), Salesforce.com (CRM), Compellant (CML) and 3Com (COMS).

“We see Dell potentially looking to acquire a smaller remote infrastructure management company, or a smaller outsourcer–Perot fits the latter description, and is possible, but it is unclear that it is a willing seller, and its unique concentration (50 percent) in healthcare may be too narrow a platform for Dell’s offerings,” the analyst writes.

“…Dell’s software acquisitions to date have largely centered around systems management and we believe that similar types of companies could be acquired to further expand Dell’s capabilities. Also in software, we believe that [Salesforce.com] would be strategically consistent with Dell’s efforts to drive business at mid to large enterprises, but would be expensive ($4.8B current market cap) and would have a limited impact on revenues ($1.1B in their last FY)….

“Given that Dell’s biggest enterprise partnership is in storage, we believe the company could look to acquire additional IP for its own use. Compellent and CommVault (CVLT) could be appropriate targets. We think a networking deal is less likely, but purchasing someone such as 3COM and attempting to commoditize the networking space would not be inconsistent with Dell’s stated enterprise strategy.”

An interesting list of targets. Still, you’ve got to wonder why it doesn’t include Palm (PALM). After all, Dell really can’t afford to miss out on the handheld market completely. Can it?

Why the discrepancy? RampRate says Credit Suisse vastly overestimated YouTube’s bandwidth, storage, and data center costs. Worse, it failed to account for Google’s peering agreements, which significantly reduce Internet transit costs by exchanging traffic locally with other large networks. RampRate figures Google (GOOG) pays for about 27 percent of YouTube’s bandwidth. It trades for the remaining 73 percent through peering deals.

Beyond this, Google finds savings in other ways. It’s likely able to negotiate a lower rate for 27 percent of YouTube bandwidth it pays for simply by virtue of the sheer amount of business it’s able to bring to the table. And it keeps hosting costs low by maintaining servers in out-of-the-way locations. Says RampRate, “Regardless of what you may hear, YouTube costs are a fraction of any other company running similar operations. Most of Google’s bandwidth is free or near-free; its hardware is cost-optimized; and its data center costs are mostly committed or sunk.”

If that’s the case, why didn’t Google take issue with Credit Suisse’s (CS) projections? Why does it allow this perception of YouTube as money pit to persist? Well, silence is golden, is it not? “Any appearance of profits leads to more draconian revenue share demands from partners and additional lawsuits from owners of unlicensed content,” Ramprate explains. “An apparent loss deters this behavior, making it eminently advisable for Google to let rumors of YouTube’s losses grow and compound….

“The trail for this strategy was blazed long before YouTube. Apple’s poor-mouthing of iTunes served it exceptionally well for years in holding back the tide of higher revenue share demands (even as labels privately suspected the service was much more profitable than reported). The apparent stability and maturity of the business finally culminated in recent price increases. Google can only hope that its run with YouTube lasts as long as Apple’s luxury of $.99 pricing.”

Palm (PALM) picked a hell of a day to launch the Pre. Two days before Apple’s World Wide Developers Conference. Two days before the unveiling of the iPhone 3G S, a new version of Apple’s (AAPL) iconic handset that runs twice as fast as its predecessor, shoots video with an improved three megapixel camera and boasts longer battery life and greater storage.

And worst of all, two days prior to the announcement of a new $99 price point for the iPhone 3G, a disruptive move that puts the device in reach of far more consumers and allows Apple to position last year’s iPhone as a competitor to this year’s Pre (and BlackBerry Storm too). And unlike this year’s Pre, last year’s iPhone comes with iTunes, a robust developer ecosystem, access to 50,000+ apps and soon iPhone OS 3.0.

And that may bode ill for a hard-to-come-by upstart handset that’ll set you back $199 after a $100 rebate.

Certainly, a $99 iPhone 3G is a very compelling proposition. Said CL King & Associates analyst Lawrence Harris, “Apple’s strategy appears to be designed to take advantage of the current limited availability of the Palm Pre. It is clear that Apple intends to maintain its leadership position in the smartphone market, given its decision to cut prices.” 

Clear too that Palm’s decision to roll out the Pre this past Saturday was folly and has not only left the company’s most important product release in years washed away in a deluge of Apple coverage, but allowed a powerful rival with a lot of market buzz to undercut the price of its bet-the-company handset within just days of its launch.

Sadly for Palm, it may be that the Pre’s best days are already behind it.

• 600 MHz Samsung ARM processor
• 256MB system RAM
• a 3.2-megapixel camera with autofocus
• 32GB of storage
• a digital compass
• FM

These specs were submitted to a rumor site by someone who claims to have a friend inside Apple manufacturing partner Foxconn who has handled iPhone “model MB717LL 9.” As such, they should be taken with a grain of salt, if not an entire salt flat.

That said, the rumors do seem reasonable. A 600 MHz chip is a nice improvement over the a 400 MHz part in the current iPhone, as is the doubling of RAM to 256MB. FM transmission and reception capabilities have been rumored before as has the compass. What’s missing, however, is an improved battery, a better GPU–perhaps the PowerVR SGX that’s been rumored to be heading for the device, a new, more elegant housing less prone to those hairline cracks that seem to plague the current one, and–in a perfect world–an OLED display and a second front-facing camera for video conferencing. Of course if OS 3.0 proves to be even a third as robust as Apple claims, we’ll be so enamored of the device we might not notice any of those things are missing.