Engadget.com recently published an article discussing the recent “jailbreak” that has set the iPod Touch free. Now, the iPod Touch, through the power of Wi-Fi, can run mail programs, Google Maps, and much more.

From the beginning of Apple’s creation of the iPhone, and now the iPod Touch, hackers have been looking for a way around the company’s stronghold on their products. Users have demanded instant messaging capabilities, a full-function mail application, and various other ways to take advantage of the Wi-Fi enabled devices. Unfortunately, Apple has yet to respond and create their own programs of this nature. In the meantime, hackers have officially accomplished their goal of opening the device to 3rd party apps.

The hacking of any of the Apple products means only one thing for the company, more money. Once these devices are hacked, there’s always an increase in sales. Potential customers like the idea of “hacking” the products, as well as using considerably more features then the regular user. Heck, having a more advanced mail system is just one more reason to consider an iPod Touch a little more worthy of our attention.

Keep an eye out for Apple over the next few days, they’re set to report earnings on October 22nd.Estimates: 0.99 | 0.84 | 0.72

Google (GOOG) will not be making a phone (at least nothing like people are imagining). The rumors and fake prototype pictures can end now. What appears to be happening at this time is that the phone rumors are a confusion of what’s actually going on inside Google.

Deep inside Google, they’re working on great features, outside of the publicly known Google Labs. It’s being misinterpreted as a “new” product’s research and development, rather than Google working with Apple to create a “new” feature/product addition. The only known communication with Google was from Google Spain, in which the employee talked about the company “investigating in such a product.”

Common sense shows the evidence that disproves any thoughts or information about a new Google Phone. For starters, Eric Schmidt, the CEO of Google, owns shares in Apple Inc (AAPL), is on the Board of Directors, and has a direct influence and motivation to see both stock of Google and Apple increase. A new, Google Phone, would most likely have a detrimental effect on Apple stock, even though it might pop Google shares up for a time. It would be senseless competition, and unnecessary stress between companies.

The closeness between the two companies seems to be expanding at incredible rates. With the latest addition to the Apple product line-up, the iPhone, Google had an incredibly influential and key role in creating software for the new device. Furthermore, evidence suggests that Apple and Google are going to be working on many more projects together.

“Without commenting specifically on the rumor, Schmidt reportedly said Google and Apple are ‘doing more and more things together.’

‘We have similar goals, similar competitors,’ he added.”

In another new story on the topic, MacRumors.com wrote,

“A Google entry into the mobile phone market could cause some conflicts with Apple. Google and Apple have recently partnered to bring Google technology to users through the upcoming Apple iPhone.”

The rumors about the Google Phone should soon dissipate as Apple’s iPhone comes back into the picture around the product launch. The synergies between Google and Apple would most likely collapse or be ruined if a Google Phone was released. Along with that, Google will most likely continue to benefit from designing software and applications on the Apple platform. The future may be uncertain, but the information remains, Google has no financial reason to release a phone (into an already highly competitive cell market).

Disclosure: Long Apple Inc. (AAPL)