Alphabet revenue overview Q2: Who will win the online ad budget competition?
AlphabetAlphabet Inc – C (All Sessions)Alphabet Inc – A (All Sessions)It must be said that even in an economy full of uncertainties and risks, shareholders must always show good faith about Alphabet’s ability to survive difficult times thanks to its exceptional track record.
According to the first quarter financial report, the search engine operator posted $20.9 billion in cash and cash equivalents and an enviable free cash flow (FCF) of $69 billion over the past 12 months. Therefore, even under pressure, an economic downturn and soaring interest rates, the company’s top-notch balance sheet and ability to generate cash will undoubtedly provide a safety net for the company to weather. economic changes.
Alphabet Stock Price: Technical Analysis
Alphabet’s stock price has hit a roadblock by falling 23% year-to-date. Last week, shares of companies dependent on online advertising fell sharply after Snap reported disappointing second-quarter results. Alphabet’s stock also suffered, falling more than 5%.
Based on its daily chart, Alphabet’s price has moved with the upward tunnel bound to higher lows. However, the price seems at risk of breaching the lower boundary of the tunnel, which could trigger a new downward cycle.
The next support can be found from the $105 level which represents the lowest level in two months. On the other hand, the next level of pressure should look at the 20-day moving average, around $113.