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Google Stock Expectations In the Spotlight: Will Earnings Results Exceed Expectations?
By: StockCharts | October 24, 2023
• Google's Q3 earnings will have an impact on which way the stock moves
• GOOGL's daily stock chart shows the stock is trading very close to its 52-week high
• GOOGL stock is trading above its 21-day exponential moving average, it has a high SCTR rank, and its relative strength index is climbing
Big tech earnings week kicks off with Google parent Alphabet, Inc. (GOOGL) reporting on Tuesday after the close. More recently, the AI boom has been the biggest driver of the stock market, so that could be the main focus, as the big tech companies report. GOOGL has invested significantly into AI and will likely make it central to their search capabilities. Investors will be listening to how the company's investments could pay off.
When GOOGL opens its books on Tuesday after the market close, investors will be closely listening for guidance, especially in the AI front. Analysts expect EPS of $1.45 and revenues of $75.94 billion. A lot is riding on GOOGL's earnings report, and the results could push the stock price in either direction. A positive earnings report could send GOOGL's stock price close to or above its all-time high. If earnings miss expectations, the stock price could see a significant fall.
GOOGL Price Chart: A Weekly Perspective
Google's stock price has been trending higher in 2023 and is trading pretty close to its 52-week high. The Distance To 52-Week High is at 1.41%. When you look at the weekly chart of GOOGL stock, it's clear that it was in a strong uptrend from April 2020 to November 2022. Since then, the stock went through a reversal and trended lower. But GOOGL has recovered from the downtrend and trended higher in 2023 (see chart below).
CHART 1: WEEKLY CHART OF GOOGL STOCK. Although the stock has been trending higher for 2023, its Q3 earnings report can have a significant impact on the price action of Google's stock. Chart source: StockChartsACP. For educational purposes.
On the weekly chart, the 23.6% and 38.2% Fibonacci retracement levels coincide with the 21-week exponential moving average (EMA) and the 50-week simple moving average (SMA), respectively, critical support levels to watch.
GOOGL Price Chart: Daily Price Action
Switching to a daily chart of GOOGL (see chart below), you can see that GOOGL stock is holding support at the 50-day SMA. If earnings beat expectations and the company has a strong outlook on AI, the stock price could go higher.
CHART 2: DAILY CHART OF GOOGL STOCK. The daily chart shows a high SCTR score and a rising RSI. Both indicate strength in the stock. Let's see if GOOGL's Q3 earnings report sends this stock higher. Chart source: StockChartsACP. For educational purposes.
The daily chart is showing strength. The stock bounced off its 50-day SMA and is trading above its 21-day EMA. The StockCharts Technical Rank (SCTR) is registering at around 95, which indicates the stock is strong. The relative strength index (RSI) is around 56, which suggests the stock has upside room if earnings are strong.
Google's stock price today is trading higher, but investors are probably waiting to hear what the company says in their earnings conference call before buying more shares.
If earnings beat and guidance is positive, and the stock trends higher, look for a close above the October 12 high of $141.22. This would be a higher high, a requirement to seal the uptrend.
If, on the other hand, GOOGL reports disappointing earnings, the stock price could fall significantly. A drop below the September 26 of $127.22 would bring the stock price to a lower low, which would be an indication of a downtrend.
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GOOGL ~ $1 Million Call • Strike: 160 • Expiration: 6/21/24
By: Cheddar Flow | October 24, 2023
• $GOOGL ~$1M OTM Call
Strike: 160
Expiration: 6/21/24
*At the Ask*
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Alphabet (GOOGL) gears up for Q3 earnings amid antitrust conflict
By: Investing | October 24, 2023
Alphabet (NASDAQ:GOOGL) Inc., the parent company of Google, is set to reveal its third-quarter earnings amidst an ongoing antitrust dispute with the Justice Department.
This year, Alphabet's stock has seen a remarkable surge of 55%, considerably outpacing the S&P 500 SPX's 10% rise in 2023. Analysts have set an average price target of $152.08 for the stock, with 47 buy ratings and 10 hold ratings among them.
Investors are keeping a keen eye on Alphabet's digital ad spending, specifically the anticipated re-acceleration of search and YouTube revenues. Despite Meta (NASDAQ:META)'s continued dominance in the ad sector, expectations are mounting over a potential face-off with Apple (NASDAQ:AAPL).
Analysts at Goldman Sachs have commended Alphabet's management for effectively optimizing the company's long-term cost structure. They describe this as an "under-appreciated narrative" and position Alphabet as a leading player in artificial intelligence (AI), influencing upcoming shifts in computing.
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Google $GOOGL reports earnings tomorrow after the markets close, Wall ST is expecting numbers of
By: Evan | October 23, 2023
• Google $GOOGL reports earnings tomorrow after the markets close, Wall ST is expecting numbers of
EPS of $1.45 up 27% YoY
Total revenue of $75.8B up 9.7% YoY
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Alphabet (GOOGL) Shares Rebound Despite Broader Market Struggle
By: Investing | October 23, 2023
Alphabet (NASDAQ:GOOGL) Inc.'s shares bucked the trend of key market indices S&P 500 and Dow Jones on Monday, ending a three-day losing streak by climbing 0.66% to $136.50. This occurred despite the indices dropping by 0.17% and 0.58% respectively.
Although Alphabet's share price closed $4.72 below its October high of $141.22, the company's rise was less pronounced than that of its competitors. Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), and Meta Platforms (NASDAQ:META) saw their stocks increase by 0.81%, 1.11%, and 1.74% respectively.
Monday also marked an impressive trading day for Alphabet in terms of volume, as it hit 26.2 million, surpassing its 50-day average. This underscores the heightened interest in the company despite struggles in the broader market.
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Chart of the Day: Google - By Any Other Name is Still Sweet
By: Barchart | October 23, 2023
The Chart of the Day belongs to technology giant Alphabet (GOOG) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation.
GOOG Price vs Daily Moving Averages
Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play store; and Fitbit wearable devices, Google Nest home products, Pixel phones, and other devices, as well as in the provision of YouTube non-advertising services. The Google Cloud segment offers infrastructure, cybersecurity, data, analytics, AI, and machine learning, and other services; Google Workspace that include cloud-based collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells health technology and internet services. The company was founded in 1998 and is headquartered in Mountain View, California.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
100% technical buy signals
40.30+ Weighted Alpha
36.02% gain in the last year
Trend Seeker buy signal
Above its 20, 50 and 100 day moving averages
10 new highs and up 1.60% in the last month
Relative Strength Index 49.45%
Technical support level at $135.64
Recently traded at $136.74 with 50 day moving average of $135.07
Fundamental Factors:
Market Cap $1.74 trillion
P/E 29.44
Revenue expected to grow 1.80% this year and another 11.30% next year
Earning estimated to increase 16.70% this year, and an additional 18.30% next year and continue to compound at an annual rate of 17.98% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
Wall Street analyst gave 34 strong buy, 10 buy and 8 hold opinions on the stock
Analysts' price targets are between $113 and $151 with a consensus of $150
The individual investors following the stock on Motley Fool voted 1,506 to 41 for the stock to beat the market with the more experienced investors voting 239 to 7 for the same result
Value Line rates it an above average 2 plus a Price Growth Persistence score of 95 and a Price Stability score of 90
CFRAs MarketScope rates it 4b star buy with a price target of $157
1,290,000 investors monitor the stock on Seeking Alpha
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History of Google's $GOOGL Q3 revenue
By: Evan | October 22, 2023
• History of Google's $GOOGL Q3 revenue
2004: $805.9M
2005: $1.6B
2006: $2.7B
2007: $4.2B
2008: $5.5B
2009: $5.9B
2010: $7.3B
2011: $9.7B
2012: $13.3B
2013: $13.8B
2014: $16.5B
2015: $18.7B
2016: $22.4B
2017: $27.8B
2018: $33.7B
2019: $40.5B
2020: $46.2B
2021: $65.1B
2022: $69.1B
2023: Find out after the markets close on Tuesday
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GOOG $1 Million Call • Strike: 146 • Expiration: 11/24/23
By: Cheddar Flow | October 20, 2023
• $GOOG $1M OTM Call (Unusual)
Strike: 146
Expiration: 11/24/23
*At the Ask*
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$GOOG $4.4 Million Call Seller • Strike: 180 • Expiration: 9/20/24
By: Cheddar Flow | October 19, 2023
• $GOOG $4.4M Call Seller (STO)
Strike: 180
Expiration: 9/20/24
*At the Bid*
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Google, Qualcomm partner for RISC-V based Snapdragon Wear chipset
By: Investing | October 17, 2023
In a strategic partnership, Google (NASDAQ:GOOGL) and Qualcomm (NASDAQ:QCOM) are jointly developing a RISC-V based Snapdragon Wear chipset, aiming to enhance the functionality of future Wear OS watches. The collaboration was disclosed on Tuesday and is expected to result in custom cores, superior performance, and low power consumption for the wearable devices.
This development comes on the heels of the Pixel Watch 2 launch, which is powered by Qualcomm’s Snapdragon W5 Gen 1 processor. As part of their joint venture, Google and Qualcomm are also working towards establishing a robust software ecosystem and compatible apps for the first commercial RISC-V powered Wear OS watches. However, no specific launch date for these products has been provided yet.
RISC-V is an open-source alternative to Arm architecture that could potentially lead to cost savings for consumers due to its open nature. Google's official support for RISC-V in Android, announced in December 2022, along with a roadmap for its implementation, suggests a shift towards this architecture in the tech industry.
The move by Qualcomm and Google appears to be a strategic response to potential changes in Arm's licensing model, which could require device manufacturers to pay royalties based on device value. This partnership signifies a significant stride in wearable tech advancement as it aims to expedite the smartwatch production process for Original Equipment Manufacturers (OEMs).
As revealed by The Next Web, Qualcomm's engineering of a RISC-V-based platform for Google's Wear OS will augment its Snapdragon Wear line that predominantly powers Wear OS devices. The innovative chip architecture of RISC-V brings performance and power advantages to wearable technology. Consequently, Qualcomm's Snapdragon Wear platform innovations are set to rapidly evolve the Wear OS ecosystem.
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Aww, Chrome Browser was killed in Action for not allowing adblockers. Youtube is now not allowed to set any cookies whatsoever!
Alphabet Inc. $GOOGL 52W high and yank but holding well so far.. watching these big 7 tech names to see how they react this week, as they have had go to status
By: Options Mike | October 15, 2023
• $GOOGL 52W high and yank but holding well so far.. watching these big 7 tech names to see how they react this week, as they have had go to status.
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Alphabet Is Attracting Value Buyers Here Ahead of Q3 Earnings
By: Barchart | October 13, 2023
Alphabet (GOOG) stock has held up well in the last month. It looks like good value now ahead of its earnings due to come out on Oct. 24. This is especially the case for short put traders who make money selling short out-of-the-money put options for extra income.
I described this situation with GOOG puts in my Sept. 26 article, “Alphabet Stock Holds Up Well - Ideal for Short Put Traders.” For example, the article described selling short the Oct. 13 expiration puts for the $123 strike price.
The premium received at the time was 90 cents with just 3 weeks to go before expiration. That gave investors who shorted these puts a 0.73% yield on investment. On an annualized basis (i.e., if repeated every 3 weeks for a year), the expected return was 12.4%.
Today those puts are likely to expire worthless since the price today is $138.93 per share. This means the investor has no risk of having to buy the stock at the $123 strike price. It makes sense to roll this trade over for another 3 weeks.
Shorting A New OTM Strike Price
For example, the Nov 3 expiration period is 21 days from now and reflects where the stock will be after Q3 earnings are released and have been absorbed by the market.
Look at the $130 strike price, which is 6.39% below today's price. It shows a premium of $1.52 at the midpoint. That represents an immediate yield of 1.169% (i.e., $1.52/$130) for the short seller.
Moreover, on an annualized basis that works out to an expected return of 20% annually (i..e, 1.169% x 17x). This is the result of multiplying 1.169% x 17 since there are 17 periods of 3 weeks in a year.
GOOG Puts expiring Nov 3 - Barchart - As of Oct. 13, 2023
Here is how this works out on a practical basis. An investor can secure $13,000 in cash and/or margin with their brokerage firm. If they are long GOOG stock that will add to the margin amount.
Then they can enter an order to “Sell to Open” 1 put contract at the $130 strike price for expiration on Nov. 3. The account will immediately receive $152 in cash. Therefore, the $152 is an immediate yield of 1.169% on the $13,000 invested in the trade.
Now, if the investor is able to repeat this every 3 weeks, over a year the account will accumulate $2,584 (i.e., $152 x 17). That works out to an expected return of 19.87% on the $13K invested in this trade.
Obviously, prices will change during this period. There is no guarantee that the investor will make this return. But this shows that this is an attractive way to collect income on an investor's existing shares in GOOG stock.
It also presents a way for value buyers to potentially average into the stock should it fall to the strike price during the expiration period. That is why this is a good way to accumulate more shares in GOOG stock over time.
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I will use an ad blocker and you will like it!
$GOOGL $3.1 Million Call • Strike: 137
By: Cheddar Flow | October 10, 2023
• $GOOGL $3.1M Call
Strike: 137
Expiration: 10/20/23
*Above the Ask*
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Alphabet (GOOGL) shares rise amid buoyant market, trailing behind competitors
By: Investing | October 9, 2023
Monday saw Alphabet Inc. Cl A (NASDAQ:GOOGL) shares rise by 0.61% to $138.42, marking a second day of gains in an overall buoyant stock market. This performance was amidst the S&P 500 Index and Dow Jones Industrial Average also climbing by 0.63% and 0.59% respectively.
However, Alphabet's performance was mixed when compared to its competitors. Microsoft Corp . (NASDAQ:NASDAQ:MSFT) surged by 0.78%, closing at $329.82, while Amazon.com Inc. (NASDAQ:NASDAQ:AMZN) saw an increase of 0.23% to close at $128.26. Meta Platforms Inc (NASDAQ:META). (NASDAQ:FB), formerly known as Facebook, ended the trading day at $318.36, with a rise of 0.93%.
Despite the slight uptick, Alphabet's closing price was still $0.74 below its 52-week high from September 18th, 2023. The trading volume for Alphabet on Monday was recorded at 19.2 million, falling roughly 5.9 million short of its average trading volume.
The recent market trends reflect a positive investor sentiment as major tech stocks continue to show gains in the current trading environment.
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Alphabet (GOOGL) Shrinks Recruiting Team Following Large-Scale Layoffs
By: Investing | October 9, 2023
In a recent development, Alphabet (NASDAQ:GOOGL) has significantly reduced the size of its recruiting team. This move has led many employees affected by the decision to share their experiences on LinkedIn. Despite Alphabet's assertion that these were not large-scale layoffs, the company has pledged to assist those affected in finding new roles.
An employee, who had planned to retire at Google, was among those dismissed just before his paternity leave. Despite his unexpected dismissal, he praised Google as a "magical place with remarkable people" and expressed his willingness to return if an opportunity presents itself.
This development is part of a series of staff reductions at Alphabet. Earlier this year, Google, an Alphabet subsidiary, embarked on large-scale layoffs in January that resulted in 12,000 employees losing their jobs. In addition to these layoffs, workers from the Waze mapping app department were let go as part of its integration into Google Maps.
Amid these changes, Alphabet has maintained a strong market presence. According to InvestingPro data, the company's Market Cap stands at a robust 1720.0B USD, with a P/E Ratio of 29.24 and a Revenue of 289.53B USD as of the second quarter of 2023. These metrics speak volumes about the company's financial health and its ability to generate profits.
In addition to these metrics, Alphabet has also demonstrated a high return on assets, as indicated by InvestingPro. This suggests that the company has been efficient in using its resources to generate profits. Alphabet's stockholders have also seen high returns on book equity, further underscoring the company's financial strength.
On the other hand, Alphabet's revenue growth has been slowing down recently, as per InvestingPro Tips. This could be a concern for investors, especially in light of the recent layoffs. However, Alphabet remains a prominent player in the Interactive Media and services industry, and its stocks are trading near their 52-week high. This information, coupled with the company's strong return over the past three months, indicates that Alphabet continues to be a profitable investment opportunity.
For more in-depth insights and tips on investing in Alphabet, consider exploring the InvestingPro product that includes additional tips. The product lists 18 tips for Alphabet, providing a comprehensive guide for potential investors.
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Broadcom retains Google as key customer despite rumors of parting ways
By: Investing.com | October 2, 2023
Despite recent rumors suggesting that Alphabet's (NASDAQ: NASDAQ:GOOGL) (NASDAQ: GOOG) lead business unit Google was considering parting ways with semiconductor giant Broadcom (NASDAQ: NASDAQ:AVGO), a Google spokesperson confirmed on Monday that its engagement with Broadcom remains unchanged, labeling Broadcom as an "excellent partner."
The rumor mill, despite its uncertainty, has shed light on the long-queried identity of Broadcom's significant "computing offload customer." While it was widely speculated to be a tech titan, likely Google, this recent internal source seemingly confirms it.
Broadcom's custom silicon projects, also known as application-specific integrated circuits (ASICs), have been a subject of interest since 2022. The company categorized its ASIC revenue into two segments: routing and switching, and compute offload. Compute offload is a two-step process within a data center. Initially, routers and switches decide which part of the data center will handle the computing request. Processors then make the computations, which are subsequently sent back to the end user through the internet or private network by those same routers and switches.
With the confirmation that Google is Broadcom's significant ASIC customer, it's clear that Broadcom plays a crucial role in helping engineer Google's Tensor Processing Units (TPUs)—custom processors for specific AI workloads—as well as routers and switches for Google's extensive global data center fleet.
In the spring of 2022, Broadcom revealed that its ASIC business had generated nearly $800 million in 2021 for routing and switching, and nearly $1.6 billion from compute offload. These sectors had been growing at an average annual rate of 20%. Assuming this growth rate continued and that Google is the sole ASIC customer (which is likely not the case), Google could represent upwards of $3 billion in revenue for Broadcom in 2023, or nearly 10% of total annual sales.
Even though Google has debunked the rumors of parting ways with Broadcom, other ASIC companies such as Marvell (NASDAQ:MRVL) Technology Group, a smaller competitor to Broadcom also riding the AI wave with its own routing and switching chip, would likely be interested in this business opportunity.
Earlier this year, similar rumors suggested that Apple (NASDAQ:AAPL) was nearing the end of its relationship with Broadcom for 5G wireless and Wi-Fi chips. However, a few months later, Apple renewed its multibillion-dollar supply agreement with Broadcom for another couple of years. The secret to Broadcom's retention of these tech giants lies in its chip designs, extensive patent library, and some proprietary in-house manufacturing capabilities.
Despite the rumors of Google trying to save a couple of billion dollars a year, it is well-positioned to continue paying Broadcom for its assistance in compute offload chips while simultaneously growing its profitability from digital ads and Google Cloud.
Broadcom's integral role in the technology sector continues to be highlighted through its partnerships with tech giants like Apple and Google.
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Donaldson Capital Management LLC Lowers Position in Alphabet Inc. (GOOGL)
By: MarketBeat | September 29, 2023
• Donaldson Capital Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,241 shares of the information services provider's stock after selling 3,579 shares during the quarter. Donaldson Capital Management LLC's holdings in Alphabet were worth $8,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC)...
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Google $GOOG closed below weekly wedge support + first bearish MACD cross this year.
By: TrendSpider | October 1, 2023
• $GOOG Google closed below weekly wedge support + first bearish MACD cross this year.
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Alphabet Inc. $GOOGL Ugly day Friday, but r/s overall, filled it's gap and still in the upper channel.. possible H&S forming 126.6 neckline....
By: Options Mike | September 30, 2023
• $GOOGL Ugly day Friday, but r/s overall, filled it's gap and still in the upper channel.. possible H&S forming 126.6 neckline....
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Alphabet Stock Holds Up Well - Ideal for Short Put Traders
By: Barchart | September 26, 2023
Alphabet (GOOG) stock has held up well during the latest stock market selloff. This bodes well for out-of-the-money short sellers of its put options, who make income selling near-term puts for income. In early trading on Tuesday, Sept. 26, GOOG stock is just below $130 per share.
This is only about 5% below where it was on Sept. 8, when I last wrote about GOOG stock. The stock was at $136.99 when I wrote the Barchart article, “Alphabet Stock Is Still Cheap, Especially for Short Sellers of Its Puts.”
I had suggested that shorting the $130 strike price put options for expiration on Sept. 29 would be worth the 83 cents premium that could be made by selling those puts. Today, those puts trade for just below that original premium.
Selling More OTM GOOG Puts
Although this is a net zero profit or even a slight loss, it might make sense to roll this over to a new expiration period. The key is to pick out-of-the-money (OTM) strike prices that might not get exercised.
For example, for the Oct. 13 expiration period, which is 17 days from now, the $123.00 strike price put option still trades for 90 cents. That can provide a short-seller a 0.73% yield (i.e., $0.90/$123.00).
GOOG Puts expiring Oct. 13 - Barchart - As of Sept. 26
Moreover, if this trade can be repeated every 3 weeks for a year, the investor can make an expected return of over 12.4%. That is because there are 17 periods of 3 weeks in a year.
Now, obviously, this is a theoretical return, and sometimes the options will be exercised, which can potentially cause an unrealized loss. That happens when the investor's put option strike price is higher than the spot price and the put gets exercised. In this case, the investor has to purchase the stock at the strike price and there is an unrealized loss on the trade.
For example, in this week's Sept. 29 expiration period, if GOOG stock stays below $130, the investor will have to purchase the stock at $130.
Shorting OTM GOOG Calls
Nevertheless, the investor can turn around and sell short OTM call options in this situation. That could help ameliorate the unrealized loss.
For example, for the same Oct. 13 expiration period, the $135 strike price call options trade for $1.30 per contract. That strike price is 3.54% OTM and provides a covered call yield of 1.01% over today's spot price (i.e. $1.30/128.56).
GOOG Calls - expiring Oct. 13 - Barchart - As of Sept. 26
This means that if an investor gets their $130 short puts exercised they can turn around and sell one call option contract for expiration on Oct. 13 and receive $1.30.
That covers most of the unrealized loss from the short-put trade. And don't forget that the investor also kept the original premium received from selling short the OTM puts.
This shows that given the relatively modest movements of GOOG stock, options traders can trade around the volatility of the stock and make good income.
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Alphabet $GOOG Gap magnet initiated
By: TrendSpider | September 26, 2023
• $GOOG Gap magnet initiated.
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Alphabet Inc. $GOOGL Leader finally capitulated. 50D holding so far, if not 128 then that gap.. Gap above now if we bounce
By: Options Mike | September 24, 2023
• $GOOGL Leader finally capitulated. 50D holding so far, if not 128 then that gap..
Gap above now if we bounce.
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Here's how Google $GOOGL makes its money
By: Savvy Trader | September 21, 2023
• Here's how Google $GOOGL makes its money.
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$GOOG When the market leaders start getting wacked, it definitely raises some red flags.
By: TrendSpider | September 21, 2023
• $GOOG When the market leaders start getting wacked, it definitely raises some red flags.
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$TSLA & $GOOG $1+ Million Put Sellers. A lot of profit-takers after the move down today
By: Cheddar Flow | September 21, 2023
• $TSLA & $GOOG $1M+ Put Sellers
A lot of profit-takers after the move down today
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Alphabet $GOOG ready for a pullback after an epic bull run?
By: TrendSpider | September 20, 2023
• $GOOG Google ready for a pullback after an epic bull run?
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Google's $GOOGL stock performance each full year since going public
By: Evan | September 17, 2023
• Google's $GOOGL stock performance each full year since going public
2005: +115.2%
2006: +11%
2007: +50.2%
2008: -55.5%
2009: +101.5%
2010: -4.2%
2011: +8.7%
2012: +9.5%
2013: +58.4%
2014: -5.6%
2015: +46.6%
2016: +1.9%
2017: +32.9%
2018: -0.8%
2019: +28.2%
2020: +30.9%
2021: +65.3%
2022: -39.1%
2023*: +55.7% (So far)
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GOOG new 52 week high
Alphabet $GOOGL hit new 52 week highs today
By: Evan | September 14, 2023
• Google $GOOGL hit new 52 week highs today.
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Alphabet Inc. $GOOGL r/s Not far from 52W high and leading. 138 next resistance then we see
By: Options Mike | September 9, 2023
• $GOOGL r/s Not far from 52W high and leading. 138 next resistance then we see.
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$GOOG There is no stopping this train
By: TrendSpider | September 9, 2023
• $GOOG There is no stopping this train.
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Alphabet (GOOG) Stock Is Still Cheap, Especially for Short Sellers of Its Puts
By: Barchart | September 8, 2023
Despite the tech sell-off, Alphabet (GOOG) stock has held up well recently. In early trading on Friday, Sept. 8, GOOG stock is at $136.92. Moreover, its valuation metrics are still inexpensive. That makes it ideal for short sellers of out-of-the-money puts as an income play.
I discussed why GOOG stock is cheap in my last Barchart article on Aug. 22, “Alphabet Stock Holds Up and Attracts Value Investors and Short-Put Traders.” At the time, GOOG stock was at $130.67. Those arguments are still valid and I believe the stock remains cheap for value investors.
For example, GOOG stock is still trading for just 24 times forward earnings for 2023 and 20x for 2024. This is below is historical 25x average multiple according to Morningstar.
Moreover, most analysts have higher price targets for GOOG stock, according to Yahoo! Finance.
Shorting OTM Puts
In that article, I suggested shorting the out-of-the-money (OTM) puts at the $126 strike price for expiration on Sept. 15. Given that the expiration period was three weeks away the $1.82 premium received for shorting selling those puts was well worth the investment.
This play has proven successful as today those puts are now trading for just 7 cents. In other words, most of the money from shorting those puts has been made. It makes sense now to roll this trade over and short a new expiration period three weeks from now.
For example, the Sept. 29 expiration option chain shows that the $132 puts have an attractive $1.21 premium. That means that the short seller can make an immediate yield of 0.917% (i.e., $1.21/$132.00).
Rolling The OTM Short Put Play Over
However, for some investors the $132.00 strike price may not be conservative enough - it may have too much risk. It is only 3.61% below today's spot price.
Therefore, they may want to short the $130 strike price. This is almost 5% out-of-the-money (OTM) and provides much better risk, in case GOOG stock were to fall from here over the next three weeks.
GOOG Puts - Expiring 9-29-23 - Barchart - As of Sept. 8, 2023
As can be seen above the premium for the $130 strike price is 83 cents and the strike price is over 5% below today's spot price. That provides a good yield of 0.638% and good downside protection.
Moreover, even if this trade is repeated every three weeks at this same price, the return is acceptable. This is because there are 17 periods of 3 weeks in a year. So 17 x 0.638% equals 7.66% on an annualized basis.
That is significantly higher than the stock's existing dividend yield, which is zero. Alphabet still does not pay a dividend. Therefore, for shareholders who own GOOG shares, it makes sense to sell short OTM puts to gain extra income.
The bottom line here is that GOOG stock is still cheap and shorting OTM puts is a good way to play this along with owning the shares.
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$GOOG Google running into some trouble at wedge resistance + RSI made yet another lower high...
By: TrendSpider | September 6, 2023
• $GOOG Google running into some trouble at wedge resistance + RSI made yet another lower high...
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Alphabet Inc. $GOOGL 52W high this week, but couldn't really break out yet
By: Options Mike | September 4, 2023
• $GOOGL 52W high this week, but couldn't really break out yet.
See if the 8D holds now.
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$GOOG UO bubble chart for Google currently shows overwhelmingly call heavy flow through July of next year
By: TrendSpider | September 1, 2023
• $GOOG UO bubble chart for Google currently shows overwhelmingly call heavy flow through July of next year.
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Alphabet (GOOGL): One Chart Explains the Mega-Rally
By: Lucas Downey | August 30, 2023
• Alphabet Inc. (GOOGL) shares have jumped 52% in 2023. This uptrend is being powered by mega appetite for the stock.
Alphabet Attracts Big Money Inflows
Want an edge in trading? Follow the Big Money.
What’s Big Money? Said simply, it’s when a stock rises due to institutional demand. Top stocks tend to attract savvy investors.
You see, fund managers are always looking to bet on the next outperforming stocks…the best in class. They spend countless hours sizing up companies, reading reports, speaking to analysts…you name it. When they find a company firing on all cylinders, they pounce in a big way.
The YTD action tells the story. Each green bar signals unusual buying volumes in GOOGL shares, pushing the stock higher:
Source: www.mapsignals.com
Few stocks have charts this strong. Recent green bars suggest healthy demand. But, what about the fundamental story?
Alphabet Fundamental Analysis
Next, I want to make sure the fundamental story is healthy too. As you can see, GOOGL has had positive sales and EPS growth in recent years:
• 3-year sales growth rate (+21.1%)
• 3-year EPS growth rate (+30.8%)
The company is also expected to grow EPS 18.2% this year.
Source: FactSet
Marrying great fundamentals with our proprietary Big Money software has found some big winning stocks over the long-term.
Check this out. Alphabet has been a top-rated stock at MAPsignals. That means the stock has had buy pressure and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.
It’s made the rare Top 20 report numerous times. The blue bars below shows when GOOGL was a top pick:
Source: www.mapsignals.com
Tracking unusual volumes reveals the power of the MAPsignals process.
Alphabet Price Prediction
The GOOGL rally has been in place for years. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.
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Google $GOOG unable to break through wedge resistance today, meanwhile negative RSI divergence continues to build...
By: TrendSpider | August 29, 2023
• $GOOG Google unable to break through wedge resistance today, meanwhile negative RSI divergence continues to build...
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$GOOGL Not sure what else I can add here ~ they have pounded this one for the last 2 days! Larger size DP this evening ~ 1.9 mil shares at $134.57
By: FLOWrensics | August 29, 2023
• $GOOGL Not sure what else I can add here ~ they have pounded this one for the last 2 days! Larger size DP this evening ~ 1.9 mil shares at $134.57
GOOGLE CLOUD NEXT 23 kicked off today & continues through 8/31. A ton of flow to reference (just search the feed)
*Worth noting add'l featured speakers at this event should $NVDA $PANW $DDOG $W $WEN $APP $WDAY $ACN $GTLB $CME $SABR $DLTR $CTSH $KDP
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$GOOGL 09/29/23 $142C OI now at 18.8K vs 211 yest. They are also coming in to the 09/29 $143C today
By: FLOWrensics | August 29, 2023
$GOOGL 09/29/23 $142C OI now at 18.8K vs 211 yest
— Flowrensics (@FLOWrensics_) August 29, 2023
They are also coming in to the 09/29 $143C today https://t.co/QeSrxQGAR5 pic.twitter.com/MyiFx0LpcT
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$GOOG Round 3?
By: TrendSpider | August 29, 2023
$GOOG Round 3? 🧐 pic.twitter.com/UXKaL1oxZe
— TrendSpider (@TrendSpider) August 29, 2023
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