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Q4 2022 EPS Estimates for Alphabet Inc. (GOOGL) Reduced by Analyst
By: MarketBeat | July 21, 2022
• Alphabet Inc. (NASDAQ:GOOGL - Get Rating) - Equities research analysts at Oppenheimer dropped their Q4 2022 earnings per share estimates for shares of Alphabet in a research note issued on Monday, July 18th. Oppenheimer analyst J. Helfstein now forecasts that the information services provider will post earnings of $1.56 per share for the quarter, down from their previous forecast of $1.56. The consensus estimate for Alphabet's current full-year earnings is $5.44 per share...
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Alphabet Inc. (GOOG) In danger of losing trendline support after rejecting the 50 day SMA this morning
By: TrendSpider | July 22, 2022
• $GOOG In danger of losing trendline support after rejecting the 50 day SMA this morning.
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Google will once again test augmented reality glasses in public
By: CNBC | July 19, 2022
• Google will test augmented reality glasses prototypes in public settings, the company said in a blog post on Tuesday.
• The glasses will be equipped with microphones and cameras as well as transparent displays, Google said.
• The announcement shows the company trying to get ahead of kinds of privacy issues that helped sink Google Glass almost a decade ago.
Google will test augmented reality prototypes in public settings, the company said in a blog post on Tuesday.
Some prototypes will look like normal glasses and will be equipped with microphones and cameras as well as transparent displays.
The new glasses aren’t a product yet and aren’t available to the public, but Google wants to test apps like real-time translation or showing the user directions inside glasses lenses, especially in environments like busy intersections.
The tests represent a significant advance in Google’s development of augmented reality, a technology that many in Silicon Valley believe could be a major shift in computing like the smartphone and PC before it. Augmented reality superimposes computer-generated images over the real world, unlike virtual reality, which completely immerses the viewer in an artificial world or “metaverse.”
By announcing plans to test in public, Google is also trying to get ahead of the kind of privacy concerns that helped sink Google Glass, one of the first augmented reality devices, almost a decade ago.
Google Glass was equipped with a front-facing camera, and critics worried about users recording people without their permission. Glass wearers received a derogatory nickname, and in 2014 a woman wearing the glasses said she was attacked at a San Francisco bar. Eventually, Google repurposed the glasses to focus on business customers rather than consumers.
“It’s early, and we want to get this right, so we’re taking it slow, with a strong focus on ensuring the privacy of the testers and those around them,” Google product manager Juston Payne wrote in the blog post about the new product.
“These research prototypes look like normal glasses, feature an in-lens display, and have audio and visual sensors, such as a microphone and camera,” Google said in a support page about the testing.
The device features an LED light that turns on when the glasses are recording image data. Google says the glasses will not record video or take photographs for users to store and view later, but they may capture and use image data to perform functions like identifying objects or showing directions. Testers won’t wear the glasses in schools, government buildings, healthcare locations, churches, protests, or other sensitive areas, Google said. The testing will be conducted by “a few dozen Googlers and select trusted testers” and will take place somewhere in the U.S.
Google revealed its AR glasses at its developers conference in May with a focus on translating speech in real time, so that a person would see a foreign language translated in front of their eyes. One Google employee called the glasses “subtitles for the world” during the presentation.
Google is fiercely competing with other tech giants including Apple, Meta, and Microsoft to build the first next-generation augmented reality glasses. All four companies have invested billions in augmented reality software and hardware, hoping for a breakthrough that could enable a new computing platform, but current products have yet to catch on.
“The magic will really come alive when you can use them in the real world without the technology getting in the way,” Pichai said.
Apple is reportedly preparing to announce a mixed reality headset as soon as next year. Meta has announced an advanced mixed reality headset that supports augmented reality features releasing later this year. Microsoft’s Hololens is the most advanced augmented reality hardware on the market from a big tech company for now.
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Google’s stock split won’t matter in a recession, analyst says
By: MarketWatch | July 19, 2022
Shares of Alphabet Inc. slumped Monday, with MKM Partners analyst Rohit Kulkarni saying the influence of an financial slowdown might offset the advantages from the long-waited stock split taking impact.
The web big’s extra lively Class A stock Shares of Alphabet Inc. slumped Monday, with MKM Partners analyst Rohit Kulkarni saying the influence of an financial slowdown might offset the advantages from the long-waited stock split taking impact.
The web big’s extra lively Class A stock shed 2.3%.
“[S]tock splits do not change our fundamental outlook, however, we believe [Alphabet] shares could benefit in several ways (more retail participation, greater liquidity via options, likely index inclusion and management signaling shareholder friendliness),” Kulkarni wrote in a be aware to shoppers.
The 20-for-1 stock split, which was first announced on Feb. 1, took impact after Friday’s closing bell. The Class A shares had been lately buying and selling at $109.30, in contrast with Friday’s split-adjusted closing value of $111.78 (pre-split $2,235.55).
But whereas Kulkarni reiterated his purchase score, he trimmed his earnings and income estimates, and reduce his split-adjusted value goal to $140 from $165 ($3,300 pre-split).
“We believe there are several reasons shy Google should have ‘less worse’ impact from a macro slowdown vs. peers and prior slowdowns,” Kulkarni wrote. “However, given greater online penetration today vs. prior recessions, we believe all Internets would be hit harder this time vs. prior slowdowns as secular growth may not be sufficient enough to mask cyclical slowdown.”
The firm is scheduled to report second-quarter outcomes on July 26.
Alphabet’s more-active Class A shares have dropped 24.5% 12 months so far, whereas the Class C shares have misplaced 23.9%. In comparability, the SPDR Technology Select Sector exchange-traded fund gained has slid 24.2%, the SPDR Communication Services ETF of which Alphabet was a elements, shed 28.6% and the S&P 500 index has declined 19.1%.
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Google to allow app developers to use rival payment systems, to cut fees
By: Reuters | July 19, 2022
• Alphabet unit Google said it will from Tuesday cut fees to 12%, from 15%, for non-gaming app developers on its Google Play App Store which switch to rival payment systems, as it moves to comply with new EU tech
BRUSSELS (Reuters) – Alphabet unit Google said it will from Tuesday cut fees to 12%, from 15%, for non-gaming app developers on its Google Play App Store which switch to rival payment systems, as it moves to comply with new EU tech rules.
The world’s most popular internet search engine said the fee cut applies only to European consumers while the freedom to use another payment system will eventually be expanded to gaming apps as well.
The move underscores a change in Google’s strategy since last year where it now prefers to bow to regulatory and antitrust pressure with offers of concessions rather than embark on lengthy and distracting fights.
The EU rules known as the Digital Markets Act (DMA), which will come into force next year, require tech giants to allow app developers to use rival payment platforms for app sales or risk fines of as much as 10% of their global turnover.
Apple and Google are the most affected by this requirement.
“As part of our efforts to comply with these new rules, we are announcing a new programme to support billing alternatives for EEA (European Economic Area ) users,” Estelle Werth, Google’s director for EU government affairs and public policy, said in a blogpost.
“This will mean developers of non-gaming apps can offer their users in the EEA an alternative to Google Play’s billing system when they are paying for digital content and services,” she said.
The EEA includes the 27 EU countries, Norway, Iceland and Liechtenstein.
“When a consumer uses an alternative billing system, the service fee the developer pays will be reduced by 3%,” Werth said.
“Since 99% of developers currently qualify for a service fee of 15% or less, those developers would pay a service fee of 12% or lower based on transactions through alternative billing for EEA users acquired through the Play platform.”
Critics say the fees charged by Apple and Google at their mobile app stores are needlessly high and cost developers collectively billions of dollars a year, underscoring the two companies’ monopoly power.
Google has been hit with more than 8 billion euros in EU antitrust fines in the last decade for anti-competitive practices related to its price comparison service, Android mobile operating system and advertising service.
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Alphabet Stock: What the Charts Say After 20-for-1 Stock Split
By: TheStreet | July 18, 2022
• Alphabet stock just underwent a 20-for-1 stock split. Here's how to trade the stock after the event.
Alphabet (GOOGL) (GOOG) stock had a nice pop last week but has been struggling over the past few days. In fact, the shares are now down in four of the past five sessions and are flat on July 18.
That’s as the company’s 20-for-1 stock split went into effect today.
Alphabet is the second notable FAANG component to undergo a stock split this year. Amazon (AMZN) did one early last month.
While a stock split does not change the value of the business, statistics highlight how it can act as a catalyst for the stock price over the next 12 months.
So far this year, we’ve seen strong presplit performances but poor performances afterward. That goes for Amazon as well as Shopify (SHOP). It’s classic “buy the rumor, sell the news” price action.
Will we see more of the same now that Alphabet has undergone its split?
Trading Alphabet Stock After Its Stock Split
Daily chart of Alphabet stock.
Chart courtesy of TrendSpider.com
Alphabet stock found support at $125 throughout the first quarter. The shares even briefly hit all-time highs in February at $151.55 after the Mountain View, Calif., company reported strong earnings and declared the 20-for-1 stock split.
Once $125 failed as support, the shares didn’t bottom until they hit $101.88 in May. That came just above the 50% retracement from the all-time high down to the 2020 low, at $100.
Since then, Alphabet stock has been riding uptrend support higher (blue line) but has struggled with resistance between $118 and $120.
It’s not uncommon for a stock to rally ahead of an event, but this resistance level was strong enough to stop Alphabet's presplit bullish momentum and cause the shares to turn lower.
From here, the bulls need to keep an eye on this month’s low and last month’s low between $105.73 and $105.05, respectively. A break of this zone could trigger a monthly-down rotation, putting the 2022 low in play near $102.
Below that opens the door to the obvious: $100 and the 50% retracement.
If Alphabet stock really accelerates to the downside — likely alongside a broader market decline — then it could put the $89 to $90 zone in play. There we find the 61.8% retracement and the 200-week moving average.
For long-term investors, this decline would likely be a great long-term opportunity with the shares down about 40% from the highs.
Keep in mind: Along with Apple (AAPL) and Microsoft (MSFT), Alphabet has been one of the strongest names so far this year in tech. So if the bulls can push it higher, it may piece together a formidable rally.
Currently though, the shares are stuck below a bevy of key measures, including the 10-day, 10-week, 21-day and 50-day moving averages, as well as the daily VWAP measure.
If Alphabet stock can clear this area, it opens the door up to the $118 to $120 resistance zone, then $125. A move above $125 can send Alphabet to its 200-day moving average.
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No, I intent to hold my shares for while longer.
Best of luck with your investments!
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$GOOGL Weak into the split, traded 20-1 tomorrow am
By: Options Mike | July 17, 2022
• $GOOGL Weak into the split, traded 20-1 tomorrow am. Will play the action on it Like $AMZN.. Big pop there for about 40 minutes then came in FYI.
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Alphabet (GOOGL) Price Target Cut to $2,900.00 by Analysts at Citigroup
By: MarketBeat | July 14, 2022
• Alphabet (NASDAQ:GOOGL - Get Rating) had its price target decreased by investment analysts at Citigroup from $3,175.00 to $2,900.00 in a report released on Thursday, The Fly reports. Citigroup's target price indicates a potential upside of 31.58% from the company's previous close...
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Is Alphabet A Buy After 20-For-1 Stock Split?
By: Investing.com | July 15, 2022
• Alphabet is trying to widen its investment appeal through a stock split
• Company’s business fundamentals matter most when making a buying decision
• Google one of most-favored mega-cap tech stocks on Wall Street
Starting next week, you won’t need to spend more than $2,000 to buy a share of Alphabet (NASDAQ:GOOGL). The parent of the Google search engine will complete a 20-for-1 stock split by the close next Friday in the form of a one-time special stock dividend, aiming to draw a wider audience for its shares.
Alphabet, like other mega-cap tech companies that saw their share prices soaring during the past decade, has been at a disadvantage, as its stock became expensive for retail investors. For mom-and-pop traders, a lower stock price makes it easier to buy shares rather than purchase fractional stocks through their brokerage firms.
Alphabet Weekly Chart.
Source: Investing.com
Alphabet’s 20-for-1 split would reduce the price of Class A shares to roughly $111, based on Friday’s trading price of $2,228.80.
Alphabet is one of the last large mega-cap companies to do its stock splits in the current wave. Apple (NASDAQ:AAPL), Tesla (NASDAQ:TSLA) and Amazon (NASDAQ:AMZN) all have already completed their splits during the past two years.
Technically speaking, stock splits don’t change the value of a company or its investors’ holdings. However, the split decision illustrates the growing influence of retail investors on the market in modern times and the companies’ desire to make their investment appeal wider.
That said, investors shouldn’t make their investment decisions based on stock splits. Instead, the company’s business fundamentals and its valuation matter the most. On that account, Google stock is an attractive long-term buy.
20% Plunge In Shares
Its stock, which has dropped more than 20% this year amid a widespread sell-off in tech shares, is in a much better position to withstand a looming recession that could force companies to reduce their digital ad spending, depressing Alphabet’s revenues.
According to Google’s Chief Financial Officer Ruth Porat, the second-quarter results will be impacted by the Russian war in Ukraine, a worsening macro environment, tougher comparisons against pandemic highs and changing foreign exchange rates.
Ahead of the earnings announcement later this month, some equity analysts have lowered estimates for YouTube sales in part to reflect the heightened competition from ByteDance Ltd.’s TikTok video app. Google is also facing a tougher regulatory environment in Europe. Google’s second-largest business line, its network system that runs ads elsewhere on the web, was likely limited by new regulations in Europe that restricted ad targeting.
Still, the company's diverse portfolio and its dominant position in the digital ad market make it hard to ignore.
Google’s search advertising business, the company’s main revenue driver, gained 24% in Q1, while its Cloud unit sales increased 44%, showing that the company’s efforts to catch up to market leaders – Amazon.com and Microsoft Corp (NASDAQ:MSFT) – are paying off.
This strength in Google’s business model is the main reason that analysts on Wall Street overwhelmingly support buying the stock at these levels. In an Investing.com survey of 52 analysts, 50 have an “outperform” rating on the stock, with a 12-month consensus price target that implies about 38% upside.
Consensus Estimates of Analysts Polled By Investing.com.
Source: Investing.com
In a recent note, Bank of America said:
“Alphabet has a more stable business, artificial intelligence (AI)/ machine learning (ML) advantages across the product stack, significant expense flexibility, a [management] team doing more for shareholders under new CEO (i.e. buybacks) and potential valuation support.”
Bottom Line
Alphabet’s stock split decision will broaden the company’s appeal among retail investors and make a headway in the stock’s potential entry into the prestigious Dow Jones Industrial Average. In addition, Alphabet has a significant upside due to growth momentum in its cloud and other units.
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GOOG ~ 24K shares at $2300 PhantomPrint
By: Money Flow Mel | July 15, 2022
• $GOOG #PhantomPrint ~ 24K shares at $2300.
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Breakdown of GOOGL's income statement from the last quarter's earnings report
By: Markets & Mayhem | July 14, 2022
• Breakdown of $GOOGL's income statement from the last quarter's earnings report.
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Alphabet Stock: What the Charts Say Ahead of 20-for-1 Stock Split
By: TheStreet | July 14, 2022
• Alphabet stock will undergo a 20-for-1 stock split on July 18. Here's how to trade the stock into the event.
Alphabet (GOOGL) (GOOG) stock had a nice pop last week but has been struggling over the past few days.
The shares are down about 1% at last check and have declined each day this week. That’s even as the company’s 20-for-1 stock split is scheduled to go into effect on Monday, July 18.
Alphabet will be the second notable FAANG component to undergo a stock split this year, as Amazon (AMZN) did early last month.
While a stock split does not change the value of the business, statistics highlight how it can act as a catalyst for the stock price over the next 12 months.
So far this year, we’ve seen strong performances before the split but poor performances afterward. That goes for Amazon as well as Shopify (SHOP) - Get Shopify Inc. Class A Subordinate Report. It’s classic “buy the rumor, sell the news” price action.
Will we see more of the same when Alphabet does its split?
Trading Alphabet Stock Ahead of Stock Split
Daily chart of Alphabet stock.
Chart courtesy of TrendSpider.com
Alphabet stock found support at $2,500 throughout the first quarter. The shares even briefly hit all-time highs in February near $3,031 after the Mountain View, Calif., company reported strong earnings and declared the 20-for-1 stock split.
Once $2,500 failed as support, the shares didn’t bottom until hitting $2,038 in May. That came just above the 50% retracement from the all-time high down to the 2020 low.
Since then, Alphabet stock has been riding uptrend support higher (blue line) but has struggled with $2,375 as resistance.
It’s not uncommon for a stock to rally ahead of an event, but while last week we saw some nice gains in Alphabet stock, the shares have lost virtually all their recent momentum.
From here, the bulls need to keep an on this month’s low and last month’s low between $2,100 and $2,115. A break of this zone could trigger a monthly-down rotation, putting the 2022 low in play near $2,038.
Below that opens the door to the obvious: $2,000 (post-split that would be $100).
If Alphabet stock really accelerates to the downside — likely alongside a broader market decline — then it could put the $1,780 to $1,800 zone in play (post-split that would be $89 to $90).
There we find the 61.8% retracement and the 200-week moving average.
Keep in mind: Along with Apple (AAPL) and Microsoft (MSFT), Alphabet has been one of the strongest names so far this year in tech. So if the bulls can push it higher, it may piece together a formidable rally.
Specifically, a move above $2,270 puts Alphabet above the 10-day, 21-day and 50-day moving averages.
That opens the door to $2,375, then $2,500. Or post-split, that’s $113.50, $118.75 and $125, respectively.
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