Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Wednesday, April 27, 2022 9:27:53 AM
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.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent GOOG News
- MongoDB and Google Cloud Collaborate to Optimize Gemini Code Assist for Developers Building Applications on MongoDB • PR Newswire (US) • 05/02/2024 10:00:00 AM
- Google Terminates Employees Over Protests Against Israeli Government Contract • IH Market News • 04/18/2024 12:20:50 PM
- Apple in Talks with Google to Integrate Gemini AI into iPhone, Shaping a New Era in Tech Collaboration • IH Market News • 03/19/2024 10:39:54 AM
- Futures Pointing To Continued Weakness On Wall Street • IH Market News • 03/05/2024 02:03:27 PM
- U.S. Stocks May Lack Direction Following Yesterday’s Modest Pullback • IH Market News • 02/27/2024 02:14:46 PM
- FTC to Inquire to Microsoft's, Google's, Amazon's AI Partnerships • Dow Jones News • 01/25/2024 06:12:00 PM
- Lüm Mobile Taps Alepo's TelcoBot.ai for Generative AI Customer Service • PR Newswire (US) • 01/25/2024 04:00:00 PM
- Alphabet on Track for Record High Close -- Data Talk • Dow Jones News • 01/25/2024 03:45:00 PM
- Google to Settle Chip Patent Lawsuit With Singular Computing • Dow Jones News • 01/24/2024 07:15:00 PM
- Alphabet Division X Cutting Dozens of Staff, Bloomberg Reports • Dow Jones News • 01/22/2024 04:32:00 PM
- Alphabet on Track for Highest Close Since February 2022 -- Data Talk • Dow Jones News • 01/22/2024 03:36:00 PM
- AST SpaceMobile Gets Investments From AT&T, Google • Dow Jones News • 01/18/2024 10:00:00 PM
- Google to Invest $1 Billion to Build UK Data Center • Dow Jones News • 01/18/2024 06:51:00 PM
- Applied Materials, Google to Collaborate on AR Technology • Dow Jones News • 01/09/2024 01:12:00 PM
- Alphabet on Track for Highest Close Since April 2022 -- Data Talk • Dow Jones News • 12/20/2023 03:49:00 PM
- Trending: Alphabet to Pay $700 Million in Google Play Settlement • Dow Jones News • 12/19/2023 08:13:00 PM
- Trending: Epic Games Wins Antitrust Lawsuit Against Google • Dow Jones News • 12/12/2023 03:50:00 PM
- Alphabet on Pace for Largest Percent Increase Since July -- Data Talk • Dow Jones News • 12/07/2023 03:22:00 PM
- Google, Canada Reach Deal Over Planned Online News Law • Dow Jones News • 11/29/2023 08:05:00 PM
- Google, Canadian Government Reach Deal on Online News Act, CBC Reports • Dow Jones News • 11/29/2023 05:23:00 PM
- VMware and Google Cloud announce planned PostgreSQL-compatible Database Solution for traditional and generative AI applications on VMware Cloud Foundation • Business Wire • 11/07/2023 08:05:00 AM
- Match Group, Google Reach Binding Term Sheet in Legal Battle • Dow Jones News • 10/31/2023 09:29:00 PM
- Alphabet Ends Down 9.5%, Sees Largest Percent Decrease Since March 2020 -- Data Talk Update • Dow Jones News • 10/25/2023 08:59:00 PM
- Alphabet Down Over 8%, on Pace for Largest Percent Decrease in Almost a Year -- Data Talk • Dow Jones News • 10/25/2023 02:48:00 PM
- Stocks to Watch: Microsoft, Alphabet, Stride • Dow Jones News • 10/25/2023 12:16:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM