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GOOG Google looking to buck the trend here after a falling wedge breakout, retest and bounce this morning
By: Markets & Mayhem | December 23, 2022
• $GOOG Google looking to buck the trend here after a falling wedge breakout, retest and bounce this morning.
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Alphabet's Google issues 'code red' following ChatGPT launch
By: Investing.com | December 23, 2022
According to a report by The New York Times on Friday, Google's (NASDAQ:GOOGL) management has issued a "code red" following the launch of ChatGPT.
The conversational AI chatbot was created by OpenAI and gained a significant amount of traction and users — 1 million in five days — after being made available to the public.
This has reportedly sparked concern at Google, with Alphabet CEO Sundar Pichai said to have attended various meetings regarding Google's AI strategy. He has also instructed several groups, including Google's research, trust and safety division, to focus on addressing the threat ChatGPT poses on its search engine business and help to develop and launch AI prototypes and products.
It was also reported that some workers at the company have been tasked with building AI products that produce art and graphics similar to OpenAI's DALL-E.
While various people online discuss whether ChatGPT can replace Google's search engine, it is also said to be under discussion at Google itself.
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German cartel office ends proceedings against Google News Showcase
By: Investing.com | December 21, 2022
BERLIN (Reuters) - Germany's cartel office has concluded proceedings against Google (NASDAQ:GOOGL) over its online news service after the tech giant made several changes benefiting publishers, the office said on Wednesday.
The office said Google had abandoned plans to integrate the Google News Showcase into general searches and changed its contractual practice to make sure publishers do not face difficulties in asserting their ancillary copyright in response to its concerns.
A publisher's participation in the News Showcase will continue not to affect search results, added the office.
The cartel office said Google would implement further measures in the coming weeks, including providing more information about Showcase, and that it would continue to monitor this development.
Under expanded powers that entered into force last year, the cartel office has taken up cases involving several tech giants, including Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL) and Facebook (NASDAQ:META) owner Meta .
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Alphabet looks like a high-quality, value stock Warren Buffett usually buys - analysts
By: Investing.com | December 21, 2022
Despite the fact that Evercore ISI analysts lowered estimates and the price target on Alphabet (NASDAQ:GOOGL), they still believe the Outperform-rated stock should re-rate higher from current levels.
They slashed the price target on Google-parent's stock to $120 from the prior $130 per share, reflecting cuts to estimates. The analysts made changes to Evercore's GOOGL model after incorporating recent "soft" data points on Advertising, Retail, and Cloud Computing.
"QTD Search trend data from Skai suggests that the Search deceleration Google disclosed in the September Quarter is continuing into Q4," they wrote to clients in a note.
Moreover, Evercore's recent survey on Retail suggests that discretionary products "remain slow relative to staples," in addition to the U.S. November Retail Sales results that showed "clear softness in discretionary categories, such as Electronics, Home Furnishings, and General Merchandise – categories that are material to Online Retail."
Still, the analysts continue to see a lot of value in Google stock, adding that shares are still a "Buffet(t) buy."
"We continue to view GOOGL as highly attractive for long-term investors as a DHQ (Dislocated High Quality) stock."
The analysts see three key "Value Unlocks," namely:
1. One day converting its $3 billion in annual Cloud Operating Losses into profits;
2. Potentially removing its $6B in annual Other Bets Operating Losses off its balance sheet;
3. More aggressive capital allocation.
"For those investors who utilize 2-3 year time horizons and are looking to take advantage of the recent dislocation in high quality Net stocks, we highly recommend GOOGL. While the company will be negatively impacted by the probable '23 Recession and likely requires Street estimates cuts on both the top and bottom line, in part due to insufficient cost actions to date, GOOGL remains arguably one of the highest quality assets we cover in terms of Revenue and Profit outlooks," they concluded.
GOOGL stock price closed at $89.02 yesterday, down 38.5% year-to-date (YTD).
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GOOGL 86.64 to watch
Open Gaps
Direction Date range
up Nov-10-2022 89.435 to 91.61 FILLED 12/19 (27 days)
up Nov-07-2022 86.64 to 86.85 Open
Alphabet Inc. (GOOGL) Receives Average Recommendation of "Moderate Buy" from Brokerages
By: MarketBeat | December 17, 2022
• Alphabet Inc. (NASDAQ:GOOGL) has been given an average rating of "Moderate Buy" by the forty-one ratings firms that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $133.77...
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Alphabet stock on track for longest losing streak in more than four years
By: Morningstar | December 12, 2022
Alphabet Inc. shares [GOOG] are off 0.7% in Monday trading and on track to post a decline for the seventh straight trading session. That would mark their longest losing streak since a seven-session span that ended Sept. 10, 2018, according to Dow Jones Market Data. Alphabet's market value has fallen to about $1.2 trillion, from a peak of $1.86 trillion last November. The stock has gotten swept up in broader concerns about the state of the online-advertising market and whether big technology companies have more staff than is optimal for a softer climate. Bernstein analyst Mark Shmulik wrote last week that his Hardy Boys-like analysis suggests "margins can go higher" at the company. Shares of Alphabet have lost 38% over the past 12 months as the S&P 500 index has declined 16% over the same span.
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Alphabet Inc. (GOOGL) Back under all the MA's and Big gap below...
By: Options Mike | December 10, 2022
• $GOOGL Back under all the MA's and Big gap below... On short watch now.
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JUST IN: Google $GOOGL,... Were all just awarded contracts with the US Department of Defense with a ceiling value of $9 Billion
By: StockMKTNewz | December 7, 2022
• JUST IN: Google $GOOGL, Amazon Web Services $AMZN, Microsoft $MSFT and Oracle $ORCL were all just awarded contracts with the US Department of Defense with a ceiling value of $9 Billion
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Alphabet Retesting breakout level
By: Cheddar Flow | December 7, 2022
• $GOOGL Retesting breakout level
It needs to hold this TL on the daily to not only maintain the TL but also the inverse H&S structure.
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$GOOG $META ITM Calls
By: Cheddar Flow | December 6, 2022
• $GOOG $META ITM Calls
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$MSFT $GOOGL Millions Worth of ITM Calls
By: Cheddar Flow | December 5, 2022
• $MSFT $GOOGL Millions Worth of ITM Calls
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Alphabet Inc. (GOOGL) Flash dip on Tuesday and recovered
By: Options Mike | November 27, 2022
• $GOOGL Flash dip on Tuesday and recovered. No change over 100D gap to fill.
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Alphabet (GOOGL) Put Options Offer Good Value To Bullish Alphabet Investors
By: Barchart | November 25, 2022
Alphabet (GOOG, GOOGL) now looks like a good bargain, trading at just 18x next year's projected earnings. This makes its forward out-of-the-money (OTM) put options good short bets to create income with GOOGL stock.
For example, analysts now project that earnings next year will rise from $4.79 per share to $5.42, a 13.15% gain by the end of 2023. So, at $98.46 for GOOGL stock, which is slightly cheaper than GOOG stock ($98.82), the stock trades for just 18.2x 2023 forecast earnings.
Undervalued Stock
This is well below its average multiple of over 27x in the last five years. In other words, just to get to its average P/E multiple the stock could rise over 50% from here (i.e., 27.4x/18.2x-1=+50.5%).
Moreover, the company is generating large amounts of free cash flow (FCF). In its latest earnings report on Oct. 25, Alphabet reported that its FCF hit $16.077 billion in Q3 alone. That worked out to over 23.3% of its $69.1 billion in revenue for the quarter. At that pace, Alphabet could generate over $72.2 billion in FCF next year, based on $309.9 billion in revenue forecasts.
This is important since Alphabet's market capitalization is $1,280 billion. As a result, the $72.2 billion FCF works out to just 17.7x FCF (i.e., $ 1,280 b/$ 72.2 b). That is very low and could easily rise to over 20x to 25x next year, or 13% to 41% from here (i.e., 25x/17.7x).
As a result, investors are now eyeing the stock's put options. They have high premium prices and are worth shorting on a cash-secured basis, thereby creating income for investors. This is also important since Alphabet still does not pay a dividend.
Shorting GOOGL Puts To Create Income
For example, look at the Barchart put option chain for Dec. 30 below. It shows that even for the $94.00 put strike price, which is 4.5% below today's price (Nov. 23) of $98.42, the premium is almost $2.00 ($1.97) per put contract.
GOOGL Put Options Expiring Dec. 30, 2022 - Barchart - As of Nov. 23, 2022
That means that an investor who puts up $9,400 in cash with their brokerage firm and then shorts the $94.00 put option, will immediately receive $197.00. That works out to a yield of over 2% (i.e. $197/$9400 = 2.095%). That is equivalent to an annualized return of just under 25% since the option expires in just 38 days. It also helps that there are over 6,000 put contracts at this strike price, which indicates that there are a lot of investors who believe the stock could rise significantly from here.
By the way, the GOOG stock put options for Dec. 30 at this $94.00 strike price trade at just $1.84 per contract. This is well below the GOOGL price of $1.97. There are only 46 contracts at this strike price. So, the GOOGL puts are much more attractive.
Low-Risk Way To Buy GOOGL Stock
The bottom line is that many people are shorting these puts, as they don't expect GOOGL stock will fall below $92.03, which is the breakeven price (i.e. $94.00-$1.97). That means the stock would have to crater over 6.5% from here. Given how cheap GOOGL stock is now the probability of that occurring is not high.
For more conservative investors who might want to protect their downside, they could use the $1.97 premium received to buy the $90.00 strike price puts for $1.10 (see above option chain). That means that they still collect a net premium amount of 87 cents (i.e., $1.97-$1.10). This reflects a decent 0.926% yield (i.e., $0.87/$94), or almost 1.0%, reflecting an annualized 11.1% run rate yield. Granted they would still have the risk that the stock could fall below $94.00 by or on Dec. 30 and the investor would be forced to buy 100 shares. But the breakeven would be $93.13 (i.e., $94.00-$0.87), or only $3.13 of risk since the investor also owns long puts at $90.00.
In addition, the investor could immediately turn around and sell covered calls based on the shares that were purchased at $94.00. This allows the investor to try and make that $3.13 of potential unrealized losses back (assuming the stock fell below $90.00). That is a relatively low-risk way to buy GOOGL cheaply here.
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GOOGL testing daily trendline resistance
By: TrendSpider | November 23, 2022
• $GOOGL testing daily trendline resistance.
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Alphabet Inc. (GOOGL) Back over 100 gap to fill on watch
By: Options Mike | November 20, 2022
• $GOOGL More cost cutting moves there, back over 100 gap to fill on watch.
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GOOG Potential bull flag setting up for Google just below a sizeable gap in volume
By: TrendSpider | November 19, 2022
• $GOOG Potential bull flag setting up for Google just below a sizeable gap in volume.
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Alphabet, Meta and Pinterest best positioned in digital advertising - Goldman Sachs
By: investing.com | November 18, 2022
Goldman Sachs analysts said the firm is taking a more conservative stance on Q4, as macro headwinds continue to weigh on consumer sentiment and spending across the eCommerce and digital advertising sectors.
"For e-commerce, we expect growth to slow in Q4'22, as US Holiday online spending growth is expected to reach its lowest point in recent history (+2.5% YoY, per Adobe (NASDAQ:ADBE)) and as International (with a focus on Europe) remains an area of relative underperformance, with potential for further deterioration ahead," wrote the analysts. "When framing their Q4'22 guidance, companies adopted a cautious tone and touched on consumer wallets facing more constraints (from macro/inflationary pressures), a highly promotional environment (affecting pricing and competitive intensity) and still-difficult YoY compares vs. the 2021 Holidays (when online still benefited from COVID-related stay-at-home measures)."
They added that in e-commerce, the firm's Buy-rated stocks in Amazon (NASDAQ:AMZN) and Etsy (NASDAQ:ETSY) reflect its preference for profitable and scaled players with higher growth profiles, resilient models supported by platform breadth, category diversification and more favorable end-market exposure, and its expectation of continued market share consolidation within e-commerce.
Meanwhile, for digital advertising, the analysts said a key theme of the Q3 EPS season was the extent to which a number of macro headwinds are driving decelerating growth for the fourth quarter and into 2023.
"These headwinds caused Q4'22 outlooks from most companies to be fall inline to below prior expectations. While visibility into Q4'22 remains low, we see the potential for a year-end 'budget flush' for certain platforms (especially within key verticals such as retail) if the consumer spending environment remains relatively more resilient and a more moderate digital ad pricing environment supports more attractive ROI," the analysts explained.
As a result, Goldman Sachs sees its Buy-rated stocks in Alphabet (NASDAQ:GOOGL), Meta Platforms Inc (NASDAQ:META), and Pinterest (NYSE:PINS) as best positioned within the digital advertising space.
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Alphabet Inc. (GOOGL) Major Shareholder 2021 Gp L.L.C. Gv Purchases 201,897 Shares
By: Market Beat | November 8, 2022
• Alphabet Inc. (NASDAQ:GOOGL - Get Rating) major shareholder 2021 Gp L.L.C. Gv bought 201,897 shares of Alphabet stock in a transaction on Monday, November 7th. The shares were purchased at an average cost of $35.16 per share, for a total transaction of $7,098,698.52. Following the completion of the purchase, the insider now directly owns 1,072,792 shares of the company's stock, valued at $37,719,366.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC...
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GOOGL89.435 tgt to watch
Open Gaps
Direction Date range
up Nov-10-2022 89.435 to 91.61
up Nov-07-2022 86.64 to 86.85
Investor TCI urges Alphabet to cut excessive headcount, costs
By: Investing.com | November 15, 2022
(Reuters) - Activist investor TCI Fund Management has called on Alphabet (NASDAQ:GOOGL) Inc to cut costs by lowering its headcount and reduce losses in its self-driving unit Waymo, saying the Google parent needs to adjust to an era of slower growth.
The fund, an investor in Alphabet since 2017 with a $6 billion stake, said the company had "too many employees and cost per employee is too high".
TCI said Alphabet pays some of the highest salaries in Silicon Valley, noting that the company has increased headcount by 20% annually since 2017 and more than doubled it since then.
Alphabet did not immediately respond to a Reuters request for comment.
Shares of Alphabet, which has a market capitalization of $1.24 trillion, were up nearly 5% in mid-day trading.
Many tech companies including Meta Platforms Inc are lately making deep cuts to their employee base as part of its restructuring efforts to navigate a potential downturn in the economy, after years of rapid hiring.
Alphabet, which is also struggling with advertisers cutting back on spending, said in late October that it plans to cut hiring by more than half.
"Cost discipline is now required as revenue growth is slowing. Cost growth above revenue growth is a sign of poor financial discipline," the fund said in the letter to Alphabet's management and board.
TCI also called on Alphabet to disclose operating profit margin targets and reduce losses in Other Bets, the unit that includes Waymo and other special projects.
Investments into Waymo were not justified and losses should be reduced "dramatically," TCI said, adding that the autonomous vehicle technology unit has generated $3 billion but recorded operating losses of $20 billion so far. TCI demanded the unit reduce operating losses by at least 50%.
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The Saudi Public Investment Fund bought 4.05 Million shares of Google $GOOGL during Q3
By: StockMKTNewz | November 14, 2022
• The Saudi Public Investment Fund bought 4.05 Million shares of Google $GOOGL during Q3
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$GOOG Google insiders seen buying stock for the first time in a while...
By: TrendSpider | November 13, 2022
• $GOOG Google insiders seen buying stock for the first time in a while...
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Alphabet Inc. (GOOGL) Gap and 50D together, that is the next target
By: Options Mike | November 13, 2022
• $GOOGL Gap and 50D together, that is the next target. If it can get in that gap would show strength and market buying everything back.
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GOOGL Stock Options Have Large Unusual Activity
By: Barchart | November 9, 2022
Barchart's Unusual Stock Options Report (USO) for Wednesday, Nov. 9, shows that GOOGL stock has had a good deal of volume. This indicates investors are betting on huge moves in the stock over the next two or three months. It could also mean that investors are becoming more bullish on the stock, especially if becomes more volatile.
A screen of the USO activity in GOOGL stock shows the put and call options for the period ending Dec. 16 have been especially active, even though there are just 37 days to expiration. For example, at the $80 strike price, which is well below today's price of $88.48 for GOOGL stock, an investor bought over 40,500 calls. At the same time, they also bought 40,607 put options at the same $80 put price.
The price paid for the calls was $10.13 at the midpoint and the price paid for the puts was $1.25. Here is what could possibly be happening here. The investor is bullish on the stock and bought the deep in-the-money calls. They likely also sold put options at the same strike price to help defray the cost of the bullish call options investment.
For example, the calls have an intrinsic value of $8.48 (since the $88.48 stock price at $88.48 is $8.48 higher than the $80 strike price). But the investor paid $10.13 for the call contracts or $1.65 over the intrinsic value. So, by selling the $80 put contracts at $80.00 for $1.25, the investor covered almost all the cost of the bullish investment, except for $0.40 per contract (i.e., $1.65-1.25).
That effectively means that the 40,500 call contracts probably only cost the investor 40 cents, on a net basis, or $1.62 million (i.e., 40,500 x 100 x $0.40). That is a huge leverage position on effectively 4.05 million shares of GOOGL stock.
This is an effective way to essentially take a large upside position in GOOGL stock, even if the moves could be volatile over the near term.
GOOGL Stock Looks Cheap Here
This is indicative that institutional investors consider the stock a bargain here. For example, GOOGL stock is off over 9% in the last month and down 21.5% in the last 6 months.
As a result, its multiples are now very cheap. For example, GOOGL stock trades for just 16.5x forward earnings estimates for next year. This is well below its average multiple of over 27x in the last five years.
In other words, large buyers of GOOGL stock think it's a good bet to take a long position by buying in-the-money GOOGL calls and paying for them by shorting puts at the same strike price.
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Alphabet Inc. (GOOGL) Weekly .618 Fib Retracement target hit
By: Theta Warrior | November 6, 2022
• $GOOGL Weekly .618 Fib Retracement target hit.
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Alphabet (GOOGL) Closed below its 200 week MA for the 1st time since 2011
By: CyclesFan | November 5, 2022
• $GOOGL closed below its 200 week MA for the 1st time since 2011. The next major support is at the September 2020 low around 70.
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GOOGL and another @TrendSpider auto generated chart breaks out immediately
By: TrendSpider | November 4, 2022
• $GOOGL and another @TrendSpider auto generated chart breaks out immediately. These things are cheat codes.
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GOOGL $1.0 Million Call • Strike: 115 • Expiration: 6/21/24
By: Cheddar Flow | November 2, 2022
• $GOOGL $1.0M OTM Call
Strike: 115
Expiration: 6/21/24
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Google signs solar power supply deal with SoftBank-backed SB Energy
By: Investing.com | November 1, 2022
(Reuters) - Alphabet (NASDAQ:GOOGL) Inc's Google said on Tuesday it would buy about three-quarters of the renewable power from SB Energy Global's Texas facilities, as it aims to operate data centers on carbon-free energy by 2030.
Companies are rapidly shifting toward clean energy and transportation as they look to meet environmental and sustainability goals.
The $430-billion Inflation Reduction Act signed by President Joe Biden signed in August also seeks to incentivise a shift to clean energy, by providing tax credits.
Google will use the energy from the SoftBank Group Corp-backed company, which will have a capacity of about 3 GW by early next year, to power data centers in Texas, Alphabet said.
SB Energy's Orion 1, 2 and 3 and Eiffel solar projects which total nearly 1.2 gigawatts (GW) of capacity are expected to be ready to supply power by mid-2024.
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Alphabet Inc. (GOOGL) If market strong can push to that gap, failed at the 50D this week
By: Options Mike | October 30, 2022
• $GOOGL report bad, guidance worse. If market strong can push to that gap, failed at the 50D this week.
92 is the level to hold.
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Google Revenue (Billions) 2000-2022
By: Charlie Bilello | October 29, 2022
• Google Revenue (Billions)...
2022 (est): 285
2021: 258
2020: 183
2019: 162
2018: 137
2017: 111
2016: 90
2015: 75
2014: 66
2013: 56
2012: 46
2011: 38
2010: 29
2009: 24
2008: 22
2007: 17
2006: 11
2005: 6.1
2004: 3.2* (IPO: Aug 2004)
2003: 1.5
2002: 0.44
2001: 0.09
2000: 0.02
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FY2023 EPS Estimates for Alphabet Inc. Reduced by Analyst
By: MarketBeat | October 28, 2022
• Alphabet Inc. (NASDAQ:GOOGL - Get Rating) - Research analysts at Jefferies Financial Group cut their FY2023 earnings estimates for shares of Alphabet in a note issued to investors on Tuesday, October 25th. Jefferies Financial Group analyst B. Thill now expects that the information services provider will post earnings per share of $4.54 for the year, down from their prior estimate of $5.17. Jefferies Financial Group currently has a "Buy" rating and a $130.00 price target on the stock. The consensus estimate for Alphabet's current full-year earnings is $4.90 per share. Jefferies Financial Group also issued estimates for Alphabet's FY2023 earnings at $4.54 EPS and FY2024 earnings at $4.65 EPS...
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Alphabet Inc. (GOOGL) Given Consensus Rating of "Moderate Buy" by Analysts
By: MarketBeat | October 28, 2022
• Shares of Alphabet Inc. (NASDAQ:GOOGL - Get Rating) have earned an average rating of "Moderate Buy" from the forty-one ratings firms that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, twenty-seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $134.37...
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Millions worth of tech LEAPS $GOOGL $AAPL $META
By: Cheddar Flow | October 28, 2022
• Millions worth of tech LEAPS
$GOOGL $AAPL $META
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GOOG ... Buying some more deep ITM tech leaps today?
By: TrendSpider | October 26, 2022
• $GOOG Pelosi buying some more deep ITM tech leaps today?
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Large Numbers Of Alphabet Call And Put Options Trade Hands After Results
By: Barchart | October 26, 2022
Barchart's Unusual Stock Options Activity (UOA) report on Oct. 26 had huge volume in near-term call and put options for Google stock after Alphabet (GOOG, GOOGL) reported results that missed expectations for Q3.
This can be seen in the table below. It shows that the volume in call options for strike prices and contracts expiring on the weeks ending Oct. 28, Nov. 4, Nov. 11, and Nov. 18 all have huge call option activity.
Barchart - Unusual Stock Options Activity Report
For example, look at the column that I have circled with an arrow pointing to it, called “Vol/OI.” This takes the volume of contracts traded for that strike price and expiration date and divides it by the prior open interest (i.e., the number of contracts already open prior to the activity yesterday and today). That shows that the number of new contracts is 14 to 23 times normal.
Look at the first call contract, expiring Nov. 11. It shows that the 4,000 contracts traded at the midpoint price of $2.40 is 23.1 times the 174 contracts open prior to the results yesterday. That means that investors have paid $960,000 (i.e., $2.40 x 100 x 4,000) for GOOG stock call options at the $99.00 strike price, which is less than 2.0% higher than today's price.
That is a very bullish sign since it means that investors believe that in just over 2 weeks (i.e., Days to Expiration or DTE is 16), GOOG stock will be higher than $99.00+ $2.40 (the price of the calls), or $101.40.
That shows that investors believe GOOG stock will rise at least 4.38% in order for their investment to make money. All in all, there are now over 9,000 new call contracts that believe strongly that the stock will rise.
Put Buyers Are Strong
The same is true for the other call strike prices which range from $99 to $102. There is one tranche of puts at $97 for 10,000 contracts. This shows that many investors are looking for the stock to fall from today's price. But they had to pay $2.26 at the midpoint for those puts, making their breakeven price of $94.88, which is just 2.3% below today's price.
This is a signal that many more put buyers feel strongly that Google stock will keep falling.
What Is Happening With Alphabet
Alphabet reported missed revenue and earnings yesterday. Revenue at $69.09 billion was $1.55 below expectations, according to Seeking Alpha. as well as only 6% higher than last year. In addition, the company's operating margins came in at 25%, compared to 32% last year. These margins were below expectations as its headcount was higher by 12,700 over last year (up 24% YoY).
In addition, its comparable metrics in both its Search and YouTube areas were difficult. YouTube actually had a decline in revenue from $7.2 billion last year to just $7.07 billion in Q3 this year.
Clearly, investors are not pleased with these results. The company is likely going to have to begin cutting overhead or dramatically slowing its growth if revenue continues to drag.
This is likely why investors in the puts had a higher volume than the call volume.
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Alphabet (GOOGL) Stock Eyes Worst Day Since 2020 After Earnings
By: Schaeffer's Investment Research | October 26, 2022
• The security attracted at least 21 price-target cuts this morning
• Options traders have been quick to the trigger this morning
Alphabet Inc (NASDAQ:GOOGL) is down 6.4% at $97.84 this morning, after the tech behemoth's third-quarter earnings and revenue fell short of expectations. The company noted sales growth for its Google unit slowed down for the fifth-straight quarter, while ad revenue for its YouTube unit for the first time since it started sharing results.
This update is not sitting well with the brokerage bunch. At least 21 firms have cut their price targets on GOOGL, with J.P. Morgan Securities slashing its objective to $115 from $136. The equity's 12 month consensus target price of $133.29 is still a 37.6% premium to current levels, though.
Options traders have been quick to the trigger. So far, 299,000 calls and 178,000 puts have crossed the tape, or four times the average intraday volume. The weekly 11/4 100-strike call is leading the pack, followed by the 10/28 97-strike call, with positions being bought to open at both.
It's worth noting the equity's Schaeffer's Volatility Scorecard (SVS) stands at an elevated 76 out of 100. This means GOOGL has exceeded option traders' volatility expectations during the last year, making now an opportune time to speculate with options.
Digging deeper, the 50-day moving average and $105 area rejected Alphabet stock's pre-earnings rally. The equity is today looking to snap a four-day win streak, as is eyes its worst single-day percentage loss since March 2020. Year-to-date, GOOGL carries a 33.4% deficit.
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MS Analyst question to $GOOG execs:
By: The Transcript | October 26, 2022
• $MS Analyst question to $GOOG execs:
"I think you’ll have added about 51,000 new people to the company since the start of last year. Can you give us some examples of internal KPIs or quantifiable analysis you’re running just to ensure you’re generating ROI for investors?"
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| Moderators DiscoverGold | |||
GOOGLE
GOOGLE
8-34-200
toned daily pps PPO acuml vol r.s.i.
10 yr. black/daily/200ma 300ma 400ma 500ma 600ma PPS VOLUME
NEW UPDATES COMING /////\\\\\ 08-10-2015
