AI Swing Trader yields 9% return on $GOOG (TA&FA)
AI Swing Trader yields 9% return on GOOG (TA&FA)
Alphabet Inc. (GOOG), the parent company of tech giant Google, has experienced a significant increase in its market capitalization. As of May 9th, 2023, Alphabet's market cap has jumped by $22.5 billion, bringing the total value of the company to over $1.8 trillion.
The jump in the market cap can be attributed to several factors. First, Alphabet recently announced its Q1 2023 earnings, which surpassed analysts' expectations. The company reported revenue of $61.9 billion, up 29% year-over-year, driven by strong performance in its advertising business. Google's advertising revenue increased by 28% year-over-year, fueled by strong demand for search and YouTube ads.
Additionally, Alphabet's cloud business continues to gain traction, with the company reporting a 45% year-over-year increase in cloud revenue. This growth is a reflection of the increasing adoption of cloud services across industries and the demand for digital transformation.
Alphabet's stock has been on an upward trajectory for the past year, with the company's shares up over 60% in the last 12 months. The company's strong financial performance and growth prospects have continued to attract investor interest, driving up its market cap.
As Alphabet continues to invest in innovative technologies and services, such as artificial intelligence and autonomous vehicles, the company is well-positioned for long-term growth. However, as with any investment, there are risks to consider, including increased regulatory scrutiny and potential disruptions to the advertising industry.
Overall, Alphabet's recent market cap jump is a testament to the company's strong financial performance and growth prospects. As investors continue to seek out opportunities in the tech sector, Alphabet is likely to remain a top pick for those looking to capitalize on the digital economy's growth.
GOOG sees its 50-day moving average cross bullishly above its 200-day moving average
The 50-day moving average for GOOG moved above the 200-day moving average on May 03, 2023. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GOOG advanced for three days, in of 346 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 320 cases where GOOG Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for GOOG moved out of overbought territory on June 07, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 47 similar instances where the indicator moved out of overbought territory. In of the 47 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Momentum Indicator moved below the 0 level on June 09, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on GOOG as a result. In of 96 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for GOOG turned negative on June 02, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 49 similar instances when the indicator turned negative. In of the 49 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where GOOG declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
GOOG broke above its upper Bollinger Band on June 06, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 93, placing this stock better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. GOOG’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.970) is normal, around the industry mean (21.632). P/E Ratio (27.248) is within average values for comparable stocks, (41.549). Projected Growth (PEG Ratio) (1.521) is also within normal values, averaging (3.373). Dividend Yield (0.000) settles around the average of (0.023) among similar stocks. P/S Ratio (5.615) is also within normal values, averaging (9.559).
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a holding company with interests in software, health care, transportation and other technologies
Industry InternetSoftwareServices
GOOG and
Correlation & Price change
A.I.dvisor indicates that over the last year, GOOG has been closely correlated with GOOGL. These tickers have moved in lockstep 100% of the time. This A.I.-generated data suggests there is a high statistical probability that if GOOG jumps, then GOOGL could also see price increases.
| Ticker / NAME | Correlation To GOOG | 1D Price Change % | ||
|---|---|---|---|---|
| GOOG | 100% | +0.16% | ||
| GOOGL - GOOG | 100% Closely correlated | +0.07% | ||
| SPOT - GOOG | 69% Closely correlated | +0.66% | ||
| META - GOOG | 65% Loosely correlated | +0.14% | ||
| PINS - GOOG | 59% Loosely correlated | -0.33% | ||
| ZG - GOOG | 58% Loosely correlated | -3.52% | ||
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