GOOG:
The current market price is $338.77, with a 0.00% change from the previous close.
Support and Resistance Levels
Current support levels are $335.53, $334.15, and $333.11; resistance levels are $340.86, $341.21, and $342.00. The pivot point is $338.77.
Indicators
RSI is at 51.97, ATR is 1.31, ADX is 37.11, SMA 50-day is $338.64, 200-day EMA is $339.72, Parabolic SAR indicates uptrend.
Market Sentiment
The market may continue bullish above the pivot point of $338.77, supported by RSI and ADX trends.
GOOG Signals & Technical Analysis
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Alphabet Inc. (NASDAQ: GOOG) is a global leader in technology and innovation, founded in 1998 by Larry Page and Sergey Brin while pursuing their Ph.D. degrees at Stanford University. Originally established as a search engine company, Alphabet has evolved into a diversified multinational conglomerate, expanding its portfolio to include various sectors such as digital advertising, cloud computing, consumer electronics, and autonomous vehicles. Google, its most well-known subsidiary, remains the world's preeminent search engine, handling over 3.5 billion searches per day.
Market Position
As one of the largest technology companies in the world, Alphabet holds a dominant position in the digital advertising market, accounting for approximately 29% of global ad spend. The company leverages its vast user data and machine learning capabilities to deliver highly targeted advertising, which has been pivotal in driving revenue growth. Apart from advertising, Alphabet's other subsidiaries, including YouTube, Google Cloud, and Waymo, contribute significantly to its overall market presence. Google Cloud, in particular, is rapidly gaining traction among businesses seeking scalable and efficient solutions in a competitive landscape.
Key Financial Highlights
Alphabet's financial performance reflects its robust business model and adaptability in an ever-changing market. For Q2 2023, the company reported revenues of $74.6 billion, with a net income of $17.6 billion, showcasing a year-over-year revenue growth of 9%. Investments in research and development (R&D) remain a core focus, with $31 billion allocated in 2022 alone, emphasizing the company's commitment to innovation and technological advancement. As of October 2023, Alphabet boasts a market capitalization exceeding $1.7 trillion, solidifying its status as a key player in the global economy. With continued advancements in artificial intelligence and a focus on sustainable practices, Alphabet is poised for ongoing success in the technology sector.
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