Alphabet Inc. ($GOOGL) Stock | Surging After Company Crushes Earning Estimates

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Alphabet Inc. (NASDAQ: GOOGL)

 

 

Alphabet Inc News & Technicals

GOOGL Chart

Yesterday after the market closed, Alphabet Inc. (GOOGL) announced earnings that crushed analyst estimates and sent shares skyrocketing to highs of $843.00 before settling down in the low $800 range. GOOGL reported earnings of $8.67 per shares on $21.3 billion in revenue while analyst had estimated earnings of $8.10 per share on $16.9 billion in revenues. This is exactly what investors wanted to see and with the price of the stock being driven to new heights, they are the most valuable company in the world even over Apple Inc. (AAPL). A strong factor in this earnings beat was Google’s core business which spiked 18% last quarter to $21.2 billion.

 

Today will be a wild ride for share prices as I’m sure there will be plenty profit taking and short sellers looking to take advantage of this all time high. We should see some support come in at previous highs of $798.69 and $780 while resistance will be met at post market highs of $843.00. Expect the stock to be very volatile on above average volume as there will be a lot of traders and investors looking take part in the action. Currently analyst have an average price target of $861.00 but I’m guessing there will be a lot of upgrades coming out over the next couple days so keep an eye out.

 

GOOGL Profile

Alphabet, Inc. is a newly founded holding company for the Google group of businesses. Under the new operating structure, its main Google business will include search, ads, maps, apps, YouTube and Android and the related technical infrastructure (the ‘Google business’). Businesses such as Calico, Nest, and Fiber, as well as its investing arms, such as Google Ventures and Google Capital, and incubator projects, such as Google X, will be managed separately from the Google business. The new legal and operating structure will be introduced in phases over the coming months and when finalized, Google anticipates that it will result in two reportable segments for financial reporting purposes, with the Google business presented separately from other Alphabet businesses taken as a whole. Accordingly, Alphabet will report its results under this new structure commencing with its Q4 earnings release and its Annual Report on Form 10-K for the period ending December 31, 2015. The company was founded on 2nd October, 2015 and is headquartered in Mountain View, CA. (MarketWatch)

 

 

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