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$GOOGL Higher than $AMZN for the first time in many years
By: Options Mike | May 7, 2022
• $GOOGL Higher than $AMZN for the first time in many years. 2250 was support, 2450 is resistance.
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Google acquires Raxium
By: Google | May 4, 2022
• Today we’re announcing that Google has acquired Raxium, an innovator in single panel MicroLED display technologies. The team at Raxium has spent five years creating miniaturized, cost-effective and energy efficient high-resolution displays that have laid the foundation for future display technologies. Raxium’s technical expertise in this area will play a key role as we continue to invest in our hardware efforts.
Raxium is based in Fremont, California and will join Google’s Devices & Services team. We’re thrilled to have the team at Raxium on board to help further our goal of building helpful devices and services to improve people’s daily lives.
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Google faces internal battle over research on AI to speed chip design
By: Reuters | May 3, 2022
• Alphabet Inc’s Google said on Monday it had recently fired a senior engineering manager after colleagues, whose landmark research on artificial intelligence software he had been trying to discredit, accused him of harassing behavior.
OAKLAND, Calif. (Reuters) – Alphabet Inc’s Google said on Monday it had recently fired a senior engineering manager after colleagues, whose landmark research on artificial intelligence software he had been trying to discredit, accused him of harassing behavior.
The dispute, which stems from efforts to automate chip design, threatens to undermine the reputation of Google’s research in the academic community. It also could disrupt the flow of millions of dollars in government grants for research into AI and chips.
Google’s research unit has faced scrutiny since late 2020 after workers lodged open critiques about its handling of personnel complaints and publication practices.
The new episode emerged after the scientific journal Nature in June published “A graph placement methodology for fast chip design,” led by Google scientists Azalia Mirhoseini and Anna Goldie. They discovered that AI could complete a key step in the design process for chips, known as floorplanning, faster and better than an unspecified human expert, a subjective reference point.
But other Google colleagues in a paper that was anonymously posted online in March – “Stronger Baselines for Evaluating Deep Reinforcement Learning in Chip Placement” – found that two alternative approaches based on basic software outperform the AI. One beat it on a well-known test, and the other on a proprietary Google rubric.
Google declined to comment on the leaked draft, but two workers confirmed its authenticity.
The company said it refused to publish “Stronger Baselines” because it did not meet its standards, and soon after fired Satrajit Chatterjee, a leading driver of the work. It declined to say why it fired him.
“It’s unfortunate that Google has taken this turn,” said Laurie Burgess, an attorney for Chatterjee. “It was always his goal to have transparency about the science, and he urged over the course of two years for Google to address this.”
Google researcher Goldie told the New York Times, which on Monday first reported the firing, that Chatterjee had harassed her and Mirhoseini for years by spreading misinformation about them.
Burgess denied the allegations, and added that Chatterjee did not leak “Stronger Baselines”.
Patrick Madden, an associate professor focused on chip design at Binghamton University who has read both papers, said he had never seen a paper before the one in Nature that lacked a good comparison point.
“It’s like a reference problem: Everyone gets the same jigsaw puzzle pieces and you can compare how close you come to getting everything right,” he said. “If they were to produce results on some standard benchmark and they were stellar, I would sing their praises.”
Google said the comparison to a human was more relevant and that software licensing issues had prevented it from mentioning tests.
Studies by big institutions such as Google in well-known journals can have an outsized influence on whether similar projects are funded in the industry. One Google researcher said the leaked paper had unfairly opened the door to questions about the credibility of any work published by the company.
After “Stronger Baselines” emerged online, Zoubin Ghahramani, a vice president at Google Research, wrote on Twitter last month that “Google stands by this work published in Nature on ML for Chip Design, which has been independently replicated, open-sourced, and used in production at Google.”
Madden said he hoped Nature would revisit the publication, noting that peer reviewer notes show at least one asked for results on benchmarks.
“Somehow, that never happened,” he said.
Nature said in a statement that it takes all concerns about published papers seriously.
“Issues relating to the paper have been brought to our attention and we are looking into them carefully,” it said.
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Google makes $100,000 worth of tech training free to every U.S. business
By: Reuters | May 2, 2022
• Alphabet Inc’s Google will provide any U.S. business over $100,000 worth of online courses in data analytics, design and other tech skills for their workers free of charge, the search company said on Monday.
OAKLAND, Calif. (Reuters) – Alphabet Inc’s Google will provide any U.S. business over $100,000 worth of online courses in data analytics, design and other tech skills for their workers free of charge, the search company said on Monday.
The offer marks a big expansion of Google’s Career Certificates, a program the company launched in 2018 to help people globally boost their resumes by learning new tools at their own pace.
Over 70,000 people in the United States and 205,000 globally have earned at least one certificate, and 75% receive a benefit such as a new job or higher pay within six months, according to Google.
The courses, designed by Google and sold through online education service Coursera Inc, each typically cost students about $39 a month and take three to six months to finish. Google will now cover costs for up to 500 workers at any U.S. business, and it valued the grants at $100,000 because people usually take up to six months to finish.
Lisa Gevelber, founder of Grow with Google https://grow.google/certificatesforbusiness, the company unit overseeing certificates, said course completion rates are higher when people pay out of pocket but that the new offer was still worthwhile if it could help some businesses gain digital savvy.
Certificates also are available in IT support, project management, e-commerce and digital marketing. They cover popular software in each of the fields, including Google advertising services.
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$GOOG Google 100 week EMA has been BTD territory since IPO
By: TrendSpider | May 2, 2022
• $GOOG Google 100 week EMA has been BTD territory since IPO.
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Alphabet $GOOGL Yeap bad report and guidance but 70B buyback and 20-1 Split in 2 months..
By: Options Mike | May 1, 2022
• $GOOGL Yeap bad report and guidance but 70B buyback and 20-1 Split in 2 months.. 2200 is the big spot to watch if it gets there.
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Q4 2022 EPS Estimates for Alphabet Inc. Lowered by Analyst (GOOGL)
By: MarketBeat | April 29, 2022
• Alphabet Inc. (NASDAQ:GOOGL - Get Rating) - Equities researchers at KeyCorp cut their Q4 2022 earnings per share (EPS) estimates for shares of Alphabet in a research note issued to investors on Tuesday, April 26th. KeyCorp analyst J. Patterson now forecasts that the information services provider will post earnings of $37.39 per share for the quarter, down from their previous forecast of $38.16. KeyCorp currently has a "Overweight" rating and a $3,075.00 target price on the stock. Alphabet (NASDAQ:GOOGL - Get Rating) last announced its earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $25.51 by ($0.89). Alphabet had a return on equity of 31.56% and a net margin of 29.51%. During the same quarter in the prior year, the business posted $26.29 EPS...
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$GOOG Gap filled & trend firmly bullish
By: TrendSpider | April 28, 2022
• $GOOG Gap filled & trend firmly bullish.
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$GOOGL ITM sweepers with ~$3 million in premium
05/06/22 $2350 CALLS
By: Money Flow Mel | April 28, 2022
• $GOOGL ITM sweepers with ~$3 million in premium
05/06/22 $2350 CALLS.
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Buy the Dip in Alphabet (GOOGL) Stock? Here's Where It Has Support
By: TheStreet | April 27, 2022
• Alphabet stock is testing a key support level after its earnings dip. Here's where it is — and where the next one is if it fails.
Alphabet (GOOGL) (GOOG) stock is tipping lower on Wednesday, down about 2% on the day. That’s far from a disaster, although bulls may be experiencing a little jealousy as the stock market bounces on the day.
The company reported earnings last night alongside Microsoft (MSFT) - Get Microsoft Corporation Report, the latter of which is up more than 7% after its better-than-expected results.
Alphabet reported a mixed result for the quarter, including in-line revenue expectations. However, with the stock down 21.5% coming into the print, investors seemed to have been expecting worse.
Of course, tacking on an additional $70 billion to its buyback plan certainly alleviates some of the pain.
The reality is pretty simple with Alphabet: Currently down more than 23% from its highs, investors have to ask themselves if it’s cheap enough to own yet.
At 20 times this year’s earnings estimates, a massive buyback plan and a fortress balance sheet, I’m not sure what else investors need to see. That said, many stocks are in a bear market and in that scenario, we can’t rule out lower prices.
Let’s look at the chart.
Trading Alphabet Stock
Weekly chart of Alphabet stock.
Chart courtesy of TrendSpider.com
From a fundamental perspective, it’s hard not to like Alphabet stock. Especially if we take a long-term outlook with the name. However, the technical situation is a little muddy.
If Alphabet stock finishes lower this week, it will mark the stock’s fifth straight weekly decline. When the stock broke down late last week, it was clear that $2,500 support wasn’t going to hold.
Unless it was reclaimed, it opened the door down to the $2,250 area, as we outlined earlier this week.
That’s where the stock finds its 38.2% retracement from its all-time high to the Covid-19 low. Further, it’s where it finds the rising 21-month moving average — a measure that hasn’t been tested since April 2020.
So far, it's holding.
If we get a bounce here, we need to see if Alphabet stock can fill the gap near $2,370. That doesn’t show up on the weekly chart above, but it’s there. Above that and prior support at $2,500 is on the table.
If Alphabet stock continues lower, then investors need to be prepared for the next support level. On the weekly chart, that’s around $2,000. That’s about 10% below current levels and would represent a hearty decline — with shares down about 33% from the highs.
It seems unlikely, but in this environment, you just never know.
Around $2,000, the stock finds the monthly VWAP measure and the 50% retracement.
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Your phone number on Google? Search giant now takes removal demands
By: Reuters | April 27, 2022
OAKLAND, Calif. (Reuters) - Alphabet (NASDAQ:GOOGL) Inc's Google has begun entertaining people's requests to remove search results containing their home addresses, phone numbers and email accounts, the latest shift in its stance between personal privacy and access to information.
The world's most used internet search tool said on Wednesday that the expansion of its removal policies globally followed growing demand from users and evolving norms about the threat posed by easy access to contact details.
"Research has told us there's a larger amount of personally identifiable information that users consider as sensitive," Michelle Chang, global policy lead for Google search, said in an exclusive interview. "They are increasingly unwilling to tolerate this content online."
Until now, Google would only accept requests to remove webpages that shared contact info alongside some sort of threat or required payment for removal. It also has stripped links to bank account and credit card numbers and medical records.
It received tens of thousands of requests annually in recent years, approving about 13% of them. Chang said she expected the approval rate to grow under the expanded rules, which also allow for removing links to confidential log-in credentials.
Older Google policies enable requesting takedowns of results directing to unwanted pornography and, in Europe, "inaccurate, inadequate, irrelevant or excessive" personal information. Last year, Google began allowing removal of photos of minors.
Chang said in weighing requests under the contact information policy, Google would aim to preserve availability of data in the public interest. It also will not remove information that "appears as part of the public record on the sites of government or official sources."
The company said it typically processes requests within a few days.
Webpages Google drops can still be accessed through other search engines or directly, and Chang said users are encouraged to contact publishers to address "the root of the issue."
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Alphabet Downside Appears Limited After Mixed Quarter
By: Alan Farley | April 27, 2022
• The lack of major bullet points reinforced anxiety about the tough environment for growth stocks.
Alphabet Inc. (GOOG) is trading lower by more than 4% in Wednesday’s pre-market after posting a Q1 2022 profit of $24.62 per-share, missing estimates by $0.92, while revenue increased 23% year-over-year to $68.0 billion, slightly higher than consensus. Advertising income rose a healthy 22%, with Chrome and Android OS less impacted by Apple Inc. (AAPL) privacy code that’s wreaking havoc in the social media space. The Board eased the pain of the mixed quarter by authorizing an additional $70 billion in Class A and C share repurchases.
Second Quarter Headwinds
YouTube ad income rose 15% year-over-year to $6.9 billion, now comprising just 12% of total revenue. Executives warned that advertising revenue will face tough comps in the second quarter, with the Russia – Ukraine war falling within that time slot. Alphabet suspended commercial activities in Russia following the outbreak in February. The company is scheduled to split 20-for-1 after the market close on Friday, July 15th.
CEO Sundar Pichai did his best to talk up the report despite the shortfall, noting that “Q1 saw strong growth in Search and Cloud, in particular, which are both helping people and businesses as the digital transformation continues. We’ll keep investing in great products and services, and creating opportunities for partners and local communities around the world.” The lack of major bullet points reinforced anxiety about the tough environment for high valuation growth stocks.
Wall Street and Technical Outlook
Wall Street consensus hasn’t budged in 2022, standing at an ecstatic ‘Buy’ rating based upon 42 ‘Buy’, 7 ‘Overweight’, and 1 ‘Hold’ recommendation. No analysts are recommending that shareholders close positions and move to the sidelines. Price targets currently range from a low of $2,900 to a Street-high $4,183 while the stock is set to open Wednesday’s session more than $600 below the low target. This horrific placement highlights the failure of analysts to see past their blind obsession with tech stocks.
Alphabet mounted the pre-pandemic peak in November 2020, entering a strong uptrend that posted exceptional gains into November 2021’s all-time high at 3,032. A selloff through the 200-day moving average got bought in January 2022, yielding a bounce to range resistance, followed by a secondary decline that also ended at range support. The stock broke down last week, confirming new resistance at the moving average and could now find support at .382 Fibonacci rally retracement at 2,260.
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Google (GOOGL) Stock Slumps As Weaker YouTube Ad Sales Mar Q1 Earnings: $70 Billion Buyback Addition Softens Blow
By: TheStreet | April 27, 2022
• "We're going to face a tough comp" for search revenues in the second quarter, CFO Ruth Porat told investors last Tuesday.
Alphabet (GOOGL) shares slumped lower Wednesday after the search and ad sales giant posted softer-than-expected first quarter revenues amid a global pullback in ad sales linked in part to Russia's war on Ukraine and increasing competition from China-based TikTok.
Google's bottom line came in at $24.62 per share over the three months ending in March, a tally that missed Street forecasts by around $1.14 and was down 6.7% from last year.
Group revenues also disappointed, even after rising 23% to $68.01 billion, as ad sales were only in-line with the Street at $54.66 billion. YouTube ad sales, however, were well shy of forecasts at $6.9 billion as Google suspended activities in Russia and European clients tightened marketing budgets. TikTok's increasing capture of young audiences for short-form videos was also a factor...
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$MSFT & $GOOGL Pre-Earnings Flow
By: Theta Warrior | April 26, 2022
• $MSFT & $GOOGL Pre-Earnings Flow
*Both names report earnings today after the close. I do not trade earnings. Trading earnings is a 50/50 bet at best. Not a recommendation; purely entertainment*
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Alphabet earnings are out – here are the numbers
By: CNBC | April 26, 2022
Alphabet reported earnings after the bell. Here are the results:
• Earnings per share (EPS): $24.62 per share, vs. $25.91 expected, according to Refinitiv
• Revenue: $68.01 billion, vs. $68.11 billion expected, according to Refinitiv
Wall Street is also watching other key numbers in the Alphabet report:
• YouTube advertising revenue: $7.51 billion expected, according to StreetAccount
• Google Cloud revenue: $5.76 billion expected, according to StreetAccount
• Traffic acquisition costs (TAC): $11.69 billion expected, according to StreetAccount
Alphabet is contending with slowing revenue growth coming out of the pandemic, when spending rebounded as the economy reopened. Sales growth is expected to come in at 23% for the quarter, decelerating from 34% in the same period a year earlier.
Also during the first quarter, Google pulled many of its services out of Russia after the invasion of Ukraine, due in part to federal sanctions, an action that’s likely to hurt European revenue. The company blocked certain state-back media networks from appearing in search results and YouTube, and then halted ads services and recommendations in Ukraine and Russia.
Cloud infrastructure continues to grow faster than the ads business as Google battles with Amazon and Microsoft to capture revenue from companies that are moving workflows out of their own data centers. Analysts expect the company to report 42% growth in cloud.
In March, Google announced the acquisition of cybersecurity company Mandiant for $5.4 billion, subject to closing approval in the coming months. The business would work alongside Google Cloud.
Starting this month, Google began bringing employees back to physical offices three days a week despite facing some pushback from staffers. Employees also said in an annual survey that they are becoming increasingly unhappy with pay, promotions and execution, CNBC reported.
While Google says it’s committed to hybrid work, the company is spending heavily on new locations. Alphabet said during the quarter that it would be investing nearly $10 billion in real estate projects around the U.S. in 2022. CEO Sundar Pichai said the expansion would create roughly 12,000 new jobs.
Alphabet also faced fresh labor challenges during the quarter, which comes as the job market tightens and more workers in the industry organize. A Google Fiber location in Kansas City, Missouri, voted to unionize under Alphabet’s Workers Union, after votes were counted and approved by the U.S. Labor Board. The milestone vote represents the first location to unionize with bargaining rights under Alphabet’s nascent worker’s union, which formed a year ago.
After outperforming all other Big Tech stocks last year, Alphabet is more inline with its peers so far in 2022. The stock is down 17% for the year, while the Nasdaq has dropped 20%.
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Is Alphabet (GOOGL) a Buy Heading Into Q1?
By: Zacks Investment Research | April 26, 2022
Tech stocks have been experiencing a rough stretch in the market year-to-date, with the tech-heavy Nasdaq retreating nearly 20% since the beginning of 2022. With the Fed increasing borrowing rates, investors’ sentiment towards these high-flying tech stocks has significantly shifted.
Nonetheless, earnings season has arrived, and investors are laser-focused on quarterly results. On deck to report quarterly earnings today after the market closes is the big tech-player Alphabet (GOOGL).
Below, the chart illustrates the year-to-date performance of other familiar tech names – Microsoft (MSFT), Apple (AAPL), and Amazon (AMZN) – while comparing the S&P 500 and the Zacks Computer – Software Industry.
Image Source: Zacks Investment Research
As we can see, Alphabet is currently the fourth-worst performer year-to-date. However, upon lengthening the timeframe to over the past year, GOOGL is outpacing the S&P 500 and only lagging behind Microsoft’s and Apple's share performance.
Image Source: Zacks Investment Research
So, while GOOGL may not be the best investment year-to-date, it has been one of the better investments in general over the past year. Let’s analyze critical metrics and estimates heading into its quarterly report.
Previous Stock Price Reactions
GOOGL shares react positively to EPS beats; the share price has increased by at least 1.5% following quarterly reports over the last six earnings releases. In fact, the most significant share price boost came from its previous quarterly report when shares increased 9.4% in value following the release.
Image Source: Zacks Investment Research
With all of the selling going on in the market over the last week, a positive EPS beat may not be enough to win over investors and propel shares upwards again. I think it’s beneficial for investors to heed caution going into any tech company’s earnings in the near term until we start to witness buyers stepping back up.
Key Metrics
A couple of key metrics that investors should keep their eyes on heading into the quarterly report include advertising and Google Cloud revenue. Advertisements are Google’s most significant source of income, and cloud computing is quickly becoming a critical aspect of technology and will be a crucial revenue source for the company moving forward.
Google’s advertising revenue saw a notable 42% increase from 2020 to 2021. In its latest quarterly report, the company stated that users are increasingly using more diverse devices to access its products and services, and in turn, boosting this line of business. Advertising revenue has been growing consistently throughout the last four quarters, but estimates forecast a decrease in this metric for the upcoming earnings report.
It is estimated that only a tiny fraction of the world’s data resides in the cloud, meaning most businesses and applications have yet to become cloud-based. GOOGL sees this rapidly changing throughout the future and is an area they are investing in heavily. Cloud revenue has been multiplying for the company; cloud revenue saw a 47% year-over-year increase from 2020 to 2021. Unlike other metrics, cloud revenue for GOOGL is forecasted to increase from the previous quarter.
Revenue & EPS Estimates
For the quarter, the Zacks Consensus EPS Estimate sits at $25.70, reflecting a decrease in earnings of 2.3% from the year-ago quarter. The Consensus Estimate Trend has modestly improved over the last 60 days, boosted by four positive estimate revisions from analysts. In total, six estimate revisions have come in over the previous 60 days.
Analysts are forecasting Google to rake in $56 billion in revenue for the quarter, a sizable 23% increase from the year-ago quarter. The high estimate sits at $57.8 billion, and the low estimate sits at $53.8 billion, both well above the year-ago quarter’s results...
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Alphabet (GOOGL) Faces a Key Technical Test As It Reports Earnings
By: TheStreet | April 25, 2022
• Alphabet stock broke key support last week. Here's what bulls need to see now.
Investors are hoping that mega cap tech will be the ones to save the day, as the market remains volatile and under pressure.
On Tuesday, Microsoft (MSFT) and Alphabet (GOOGL) (GOOG) will report after the close. Later in the week, other FAANG components will report earnings as well.
Alphabet is an interesting one, for several reasons.
First, it has some of the most impressive financials in the entire market. Its balance sheet is robust with an enormous cash balance, a share buyback plan and little debt.
Second, it continues to churn out strong growth. Last quarter, revenue grew by more than 30% year over year, while analysts expect more than 17% growth.
In other words, the company has momentum in its current business and it should be viewed as a flight-to-safety trade, in my opinion. That’s as the stock only trades at 20 times this year’s earnings — cheaper than Procter & Gamble (PG) - Get Procter & Gamble Company Report at 27.5 times earnings, mind you.
Lastly, even during the Nasdaq’s bear market in late February, Alphabet stock momentarily burst to all-time highs on strong earnings results and after announcing a 20-for-1 stock split.
Will it receive the same post-earnings momentum this time? That’s what we don’t know, but we do know some of the key levels to watch.
Trading Alphabet Stock
Daily chart of Alphabet stock.
Chart courtesy of TrendSpider.com
Coming into last week, the $2,500 area was a solid support floor of Alphabet stock. It had held all year long, while bulls were hopeful that the company’s strong balance sheet and cash flows would make it a go-to holding during last week’s selloff.
From peak to trough, Alphabet stock fell 9.5% in the final three days of last week, with shares closing 21% below the all-time high from February.
After Alphabet reports earnings, bulls need to see the stock regain the $2,500 level and stay above it. If it can do that, the 21-day and 50-day moving averages are in play next, near $2,665.
Lastly, beyond that opens the door to the 200-day moving average and last month’s high near $2,875. Alphabet stock needs to clear this level in order to revisit resistance near $3,000.
On the downside, the 21-month moving average and the $2,250 area stands out. The latter contains the 38.2% retracement for the full range (from this year’s high to the 2020 Covid low).
Below that could open the door down to the $2,000 area, where the stock would find its 50% retracement and the monthly VWAP measure.
However, keep in mind that this high-quality holding is already down about 20% from the high. To hit the 21-month moving average, Alphabet stock will have to be down 25% from the high, while the second target (~$2,000) would indicate a 33% decline from the highs.
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Earnings Previews: Alphabet Inc. (NASDAQ: GOOGL)
By: 24/7 Wall St. | April 25, 2022
• Here is a look at four more firms set to report results after markets close Tuesday.
Alphabet
Since posting a 52-week high in mid-November, Alphabet Inc. (NASDAQ: GOOGL) shares have declined by 20.6%. Analysts and investors are concerned that ad revenue will stall as a result of inflation and the overall macroeconomic outlook. Over the past weekend, the 27 members of the European Union signed a new Digital Services Act that bans certain types of advertising and requires websites to label clearly promotional content. Violations could cost companies up to 6% of their global revenue. The new rule takes effect in 2024.
Analysts, however, remain universally bullish on the stock. All 50 brokerages covering the stock have a Buy or Strong Buy rating on the stock. At a recent share price of around $2,392.30, the upside potential based on a median price target of $3,475.00 is 45.3%. At the high price target of $3,850.00, the upside potential is nearly 61%.
First-quarter revenue is forecast at $67.8 billion, down 10.0% sequentially but up 22.6% year over year. Adjusted EPS are pegged at $25.55, down 16.8% sequentially and 2.7% lower year over year. For the full 2022 fiscal year, current consensus estimates call for EPS of $115.52, up 3%, on revenue of $302.67, up 17.5%.
Alphabet stock trades at 20.7 times expected 2022 EPS, 17.6 times estimated 2023 earnings of $135.59 and 15.6 times estimated 2024 earnings of $153.68. The stock’s 52-week range is $2,230.05 to $3,0042.00. The company does not pay a dividend, and the total shareholder return for the past 12 months is 5.5%.
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Alphabet Q1 Earnings Preview: Ad Sales Strong Despite Economic Headwinds
By: Investing.com | April 25, 2022
• Reports Q1 2022 results on Tuesday, April 26, after the market close
• Revenue Expectation: $68.07 billion
• EPS Expectation: $25.70
When Google’s parent company Alphabet (NASDAQ:GOOGL) reports its latest quarterly earnings tomorrow after the close, investors will be paying close attention to signs of any slowdown in ad spending by businesses, at a time when the economy is entering an uncertain phase, hurt by four-decade high inflation.
When the Mountain View, California-based search engine giant released its last report in February, the tech mega-cap was firing on all cylinders even in the face of economic upheaval.
GOOGL Weekly TTM
Alphabet has continued to profit from the major shift that emerged during the pandemic, as people increasingly turned to online shopping and companies drastically increased their digital marketing budgets.
During the past two years, the company’s flagship search business thrived, while its cloud computing unit and YouTube segment provided additional depth to its earnings. Furthermore, unlike Meta Platforms (NASDAQ:FB) and Snap (NYSE:SNAP), Google’s ad sales were barely affected by the most recent privacy changes to Apple's (NASDAQ:AAPL) iOS, mainly because the company relies on its own Android operating system.
Despite a variety of headwinds gathering pace on the macro front, many analysts still forecast robust sales growth for Alphabet and continue recommending the stock as a buy.
Multi-Year Value Creation
In a recent note, Credit Suisse reiterated Alphabet shares as outperform, saying it sees “ongoing signs of [a] multiyear AI-driven value creation cycle.” The note adds:
“We maintain our Outperform rating based on: 1) ongoing monetization improvements in Search through product-/AI-driven updates; 2) greater-than-expected revenue contribution from non-Search businesses; and 3) optionality/shareholder value creation from new monetization initiatives such as Maps, Discover tab, as well as the eventual commercialization of Other Bets.”
Canaccord analysts, in their own note, also rated Alphabet as a buy, saying they expect healthy digital advertising demand despite the near-term macro uncertainty. Their note said:
“GOOGL’s momentum appears poised to persist as Search is a core channel for eCommerce advertising and integrations within Search are driving an enhanced user experience.”
“These dynamics, coupled with continued momentum in verticals like retail, media & entertainment, and travel, should drive another quarter of robust results for Search, and Google is also leaning into AI investments to enhance the user experience.”
In an Investing.com survey of 50 analysts, Google stock—which is down 17% this year—received 48 buy ratings earning it an assessment of 'outperform.'
GOOGL Analyst Price Target
According to their consensus price target, the stock has over 42% 12-month upside potential from its $2,392.71 closing price on Friday.
Bottom Line
Google is one of the best mega-cap stocks currently available. GOOGL shares are well-positioned to perform well, even during any potential economic downturn due to the company's vast reach in the digital ad market and its strong growth momentum in other areas of the digital economy. Tomorrow's earnings report will likely reflect that optimism.
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Alphabet (GOOGL) Stock Rating Upgraded by StockNews.com
By: ABMN | April 23, 2022
• Alphabet (NASDAQ:GOOGL – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.
Other research analysts also recently issued reports about the stock. Credit Suisse Group cut their target price on shares of Alphabet from $3,500.00 to $3,450.00 and set an “outperform” rating on the stock in a research report on Thursday...
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$GOOGL is the 1st out of big tech to break below its 1st quarter low, in this case the January low
By: CyclesFan | April 23, 2022
• $GOOGL is the 1st out of big tech to break below its 1st quarter low, in this case the January low, confirming that the February 2 top was a major top. It will release its earnings on Tuesday. The next weekly support is only at 2193.
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Alphabet (GOOGL) to Report Q1 Earnings: What's in the Cards?
By: Zacks Equity Research | April 22, 2022
Alphabet (GOOGL) is scheduled to report first-quarter 2022 results on Apr 26.
For the quarter under review, the Zacks Consensus Estimate for revenues is pegged at $55.94 billion, indicating an improvement of 22.7% from the year-ago reported number.
The consensus mark for earnings is pegged at $25.63, indicating a 2.5% fall from the previous year’s reported number. Notably, the estimate figure has moved up 0.5% over the past seven days.
The company surpassed the Zacks Consensus Estimate in all the trailing four quarters, delivering an earnings surprise of 35.23%, on average.
Alphabet Inc. Price and EPS Surprise
Search, Ad, YouTube & Cloud Momentum: Key Catalysts
Alphabet’s robust Search segment has been the key catalyst for the company’s top-line growth. Its expanding ad services portfolio, strong search engine and improving search results are likely to have benefited the first-quarter performance.
We believe that the company’s continued efforts toward advancing its Search segment are expected to have continued driving traffic on its platform in the first quarter.
Technical advancements in Google Assistant and Google Maps are expected to have driven the momentum across search further. This is expected to have contributed well to the performance of Google Services in the quarter under review.
The growing momentum across its mobile search is anticipated to have been another positive.
Google’s growing investments in AI are likely to have continued benefiting its advertisement business in the to-be-reported quarter. Rising advertiser spending and strong consumer online activity are likely to have been other tailwinds for the business.
Solid momentum in the retail, travel, and media and entertainment space is anticipated to have contributed well to growth in advertising revenues.
Strengthening momentum across YouTube Shorts is expected to have continued boosting customer engagement on YouTube in the first quarter.
Coming to cloud prospects, the company has been significantly gaining momentum in the highly competitive cloud market on the back of its expanding cloud services portfolio and an increasing number of data centers.
The impacts of the company’s go-to-market strategy, and strengthening cloud infrastructure and ecosystem are expected to get reflected in its first-quarter revenues.
The solid adoption of Google Workspace is likely to have contributed well to the performance of the Google Cloud segment in the to-be-reported quarter.
Android, Meet, Waymo, Cybersecurity & Google TV Efforts to Consider
New and updated Android features are likely to have continued helping the company deliver an enhanced user experience. The growing momentum across Android 12 on the back of modifications in privacy management, personalization and gestures is likely to have benefited the company’s performance in the to-be-reported quarter.
Google’s growing efforts to advance its video conferencing software — Google Meet — with new user-friendly features are likely to have bolstered its user base in the quarter to be reported.
The growing prospects around Alphabet’s self-driving unit — Waymo — are expected to have been other major tailwinds. The impacts of the company’s efforts toward expanding its Early Rider program called Waymo One Trusted Tester across the United States are likely to get reflected in the upcoming results.
The company’s strong Google TV efforts are expected to have driven its momentum in the streaming market in the quarter under review. Google’s integration of more than 30 streaming services into Google TV to provide access to several contents from the services in one place is anticipated to have acted as a tailwind.
The impacts of growing cybersecurity efforts are likely to get reflected in the company’s first-quarter results. Google’s acquisition of Siemplify, which offers cloud-based security orchestration, automation and response solutions, is expected to have benefited its cybersecurity offerings in the quarter under review.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Alphabet this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Alphabet has an Earnings ESP of -1.97% and a Zacks Rank #3 at present.
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Those recent lows in $GOOGL? Broken. New downtrend appears to be starting unless earnings are very impressive
By: Markets & Mayhem | April 22, 2022
• Those recent lows in $GOOGL? Broken. New downtrend appears to be starting unless earnings are very impressive.
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$GOOGL Google starting to break down
By: TrendSpider | April 22, 2022
• $GOOGL Google starting to break down.
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Google's monthly insider sales reach a 52week high With 9 days still left in April
By: TrendSpider | April 21, 2022
• Google's monthly insider sales reach a 52week high With 9 days still left in April
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• Verifying insider sales: http://openinsider.com/search?q=GOOGL
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Alphabet $GOOGL Daily Chart
By: Javier | April 21, 2022
• $GOOGL
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Google (GOOG) Upgraded Ahead Of Earnings
By: Schaeffer's Investment Research | April 21, 2022
• Rangebound Google Gets An Upgrade
RANGEBOUND GOOGLE GETS AN UPGRADE
Alphabet (NASDAQ: GOOG), despite the rangebound nature of trading in 2022, is one of the most heavily upgraded stocks coming into the Q1 earnings season. The company has received at least 12 major upgrades and/or price target increases in the time since the last earnings report and it received quite a few immediately after that event as well. The latest comes from Citigroup which upped the rating to a Buy from Neutral with a price target of $3,500. That target is just above the Marketbeat.com consensus figure which assumes about 35% of upside but is a far cry short of the high price target of $4,183. If the Q1 results are better than expected we see the consensus target extending its upward trend and leading the stock higher.
Conversely, analysts Justin Patterson at Keybanc lowered his price target to the Wall Street low on concerns over the valuation. In his view, the stock may warrant a lower earnings multiple although the 22X it trades at now is in line with the S&P 500 average. Regardless, the new Keybanc target is still well above the current price action.
Google is expected to report earnings in the last week of April and produce 22% YOY growth. The problem for the market, and with the valuation, is that growth is slowing from the higher double-digit rates set in the wake of the pandemic to levels not seen since before the pandemic and slower. There is a chance the company will outperform because the analyst's consensus is expecting a bigger seasonal decline than historically indicated there is also a risk for weakness.
THERE ARE OTHER RISKS FOR GOOGLE INVESTORS
Analyst Rohit Kulkarni dialed back his earnings estimates for the pantheon of internet advertising companies including Google because of four headwinds facing the industry. In his view, the Russia/Ukraine conflict has far-reaching repercussions that could lead to a combination of weak ad-spend and user engagement.
"We believe online advt. companies are facing four incremental macro headwinds: (1) direct impact of the Russia/Ukraine war; (2) indirect impact and potential contagion from the war into Europe; (3) soft brand ad spend, particularly around geopolitical content; and (4) likely impact from soft consumer spend in Europe, driven by inflation and higher oil prices," Kulkarni says.
INSTITUTIONAL INTEREST IS SHAKY
As bullish as the outlook for share prices is, the institutional interest in Alphabet is shaky at best. According to Marketbeat.com data, the institutions own about 65% of the company compared to higher numbers for most other FAANG names and their activity is more rotational than bullish. The institutions have been net buyers for 4 of the last 5 quarters including Q1 2022 but have only picked up about 1.25% of the market cap in that time. This activity will help support the price action but is not a catalyst for higher prices and even poses a threat should the institutions start selling.
THE TECHNICAL OUTLOOK: GOOGLE (ALPHABET, AHEM) MAY MOVE HIGHER
Price action in Google looks like it will move higher over the next few weeks and months but there is a caveat. Even if the results are good, the stock is range bound with resistance expected at the all-time high. Price action will have to move above the $3000 level for us to have a truly bullish outlook. Until then we see this stock moving sideways within the range with a possible upside target about 20% above the current action. If, on the other hand, Google’s results are anything like we saw from Netflix, the price action could implode along with the earnings outlook.
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Cathie Wood & Ark Invest's Buys 221 Shares of Alphabet Inc (GOOG)
By: Ark Invest Daily | April 20, 2022
• Cathie Wood & Ark Invest's trade activity from today 4/20.
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