Alphabet's Breakup with Appen Sends Shockwaves In a surprising move, Alphabet, Google's parent company ( NASDAQ:GOOG ), has severed all ties with Appen, the Australian artificial intelligence (AI) data firm that played a crucial role in training Google's chatbot Bard, refining Google Search results, and contributing to other AI products. The termination, set to take effect on March 19, was communicated to Appen over the weekend, following a strategic review process. Alphabet's decision, accounting for approximately one-third of Appen's revenue, is expected to impact at least two thousand subcontracted Alphabet workers.
Appen's Role and Struggles:
Appen, with a rich history spanning nearly 30 years, has faced challenges in recent times, including a loss of customers, executive departures, and declining financials. Despite boasting an impressive client list that includes Microsoft, Meta, Apple, Adobe, Google, and Amazon, the company has struggled to adapt to the evolving landscape of generative AI tools. Its revenue plummeted by 30% in 2023, following a 13% decline the previous year, which the company attributes to "challenging external operating and macro conditions."
Financial Impact:
Alphabet's decision to terminate its contract with Appen is a significant blow, as the tech giant contributed $82.8 million to Appen's $273 million in sales for the year 2023. With the stock trading at around 28 Australian cents, down more than 99% from its peak in August 2020, Appen faces a critical juncture in its future.
Labor Disputes:
The Alphabet-Appen relationship has not been without its challenges, including a historical dispute about wages. In 2019, Google ( NASDAQ:GOOG ) set a minimum wage requirement of $15 per hour for its contractors, a standard that Appen reportedly failed to meet. This led to conflicts and public letters from workers. Despite efforts to address labor concerns, Appen faced charges from the U.S. National Labor Relations Board in June for allegedly firing six freelancers who spoke out about workplace conditions. The workers were eventually reinstated.
Future Outlook:
In response to the termination of the Alphabet contract, Appen has announced a strategic shift, focusing on managing costs, turning the business around, and ensuring the provision of high-quality AI data to its remaining clients. The company plans to provide further details on its revised strategic priorities in its full-year results announcement on February 27, 2024.
Conclusion:
Alphabet's decision to sever ties with Appen has sent shockwaves through the AI industry, highlighting the challenges faced by even established players in the rapidly evolving technology landscape. As Appen grapples with financial difficulties and labor issues, the industry watches closely to see how the company will navigate this turning point and reshape its future in the competitive AI market.
GOOGL / 1H / TECHNICAL ANALYSISBearish ABCD pattern and divergence have formed. The first target is at 140, and the second target is at the 135 level. I have indicated the support and resistance levels on the chart. Please do not forget to like and follow
GOOGL setup is nowTechnical
a standard price action pattern:
trend A - sideways adjustment structure with more than 2 test- trend B is forming
the trend at higher timeframe is still bullish with meters being green
Fundamental
Numerator Side
Not quite promising but still positive. The expected growth on earnings and revenue are slightly lower than average of its industry. Won't be a boost but in fact no accident is the best thing to expect for FAANG stocks
Denominator Side
With the discount rate decreased by 75 to 100 bp, the valuation will be cheaper compared to the overvalued price now.
More importantly, don't forget about the mid and micro companies that can finance with lower WACCs are the base revenue contributors for Alphabet.
Google's $1 Billion Investment in UK Data Centre Alphabet-owned Giant Expands Infrastructure to Meet Growing Demand for Internet Services
In a strategic move to bolster its presence in the United Kingdom, Google ( NASDAQ:GOOG ) has announced a monumental $1 billion investment in the construction of a cutting-edge data centre just outside of London. The technology giant's commitment to building this facility, located on a 33-acre site in Waltham Cross, emphasizes its dedication to meeting the escalating demand for internet services in the region.
This substantial investment is part of Google's broader strategy to enhance its infrastructure capabilities, aligning with the growing trends in technology and artificial intelligence. The data centre is expected to play a pivotal role in supporting the expansion of Google's AI and cloud services while contributing to the creation of construction and technical jobs within the UK.
The move has received significant acclaim from the British government, which views Google's investment as a "huge vote of confidence" in the nation's technological prowess. Prime Minister Rishi Sunak remarked, "Google's $1 billion investment is testament to the fact that the UK is a center of excellence in technology and has huge potential for growth."
This recent development follows Google's previous $1 billion purchase of a central London office building in 2022, situated close to Covent Garden, and another site in King's Cross, where the company is constructing a new office, housing its AI subsidiary, DeepMind.
The investment also comes hot on the heels of Microsoft's commitment to inject £2.5 billion ($3.2 billion) into Britain over the next three years, focusing on expanding its data centre capacity to support future AI services. These concurrent moves by tech giants highlight the increasing importance of the UK in the global technology landscape.
Ruth Porat, Alphabet's Chief Financial Officer, emphasized the significance of the new data centre, stating, "This new data centre will help meet growing demand for our AI and cloud services and bring crucial compute capacity to businesses across the UK while creating construction and technical jobs."
Beyond the economic impact, Google has also underscored its commitment to sustainable practices. The company revealed that the waste heat generated from the data centre will be harnessed for energy conservation, benefiting the local community and aligning with broader environmental goals.
From a technical standpoint, Alphabet's stock, particularly Alphabet C, has demonstrated a rising trend channel . The absence of resistance in the price chart suggests a positive development, with further upward momentum indicated. However, caution is advised, as a high RSI could signal the stock's overbought status, potentially leading to a corrective reaction.
Conclusion
As Google ( NASDAQ:GOOG ) reinforces its foothold in the UK with this substantial investment, the company positions itself at the forefront of the dynamic technology landscape, contributing to the nation's growth in the fields of AI and cloud services. Investors will undoubtedly be watching closely as Google's strategic moves unfold in the coming months, impacting both the company's trajectory and the broader UK tech industry.
Alphabet - Watch The All Time HighHello Traders, welcome to today's analysis of Alphabet.
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Explanation of my video analysis:
In 2011 Alphabet stock broke out of a beautiful triangle continuation pattern and created a rally of more than +800%. This pump was followed by a retracement all the way back to the support trendline of 2011. Alphabet is currently creating a triangle formation and if we see a pullback to the uptrendline which I mentioned in the video analysis, I am looking for potential long setups.
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I will only take a trade if all the rules of my strategy are satisfied.
Let me know in the comment section below if you have any questions.
Keep your long term vision.
abcdefghiJK...Before I begin I'm going to explain the meaning of each line on this chart...
All you need to do to follow this and trade it for profit is focus on the solid plack path/arrow - that is the forecast for expected price action in the coming weeks (the thicker black path is general direction, the other black path is the expected subwaves). So when you load new bars in the coming weeks you'll see price trades along this forecast.
In summary, expect a 4-6% drop going into earnings, followed by a 10-14% rally after earnings
Pullback (pre-earnings 2/1): Don't enter long until around 1/26/'24 - 1/30/'24, wait to buy the upcoming dip.
- Point Downside target = 133 by 1/26/2024
- range for pullback = 132-137
~ This could still trade higher to around 146-147 before pullback, but it will get discounted (lower than current price) before earnings
Post-Earnings Rally: I'll be buying after this pullback going into the earnings report, good chance it will be trading around 144 after the report .
- Point INITIAL upside target (after pullback) = 148 by 2/12/2024
- Initial upside target range = 148-152 (in the time period 2/8 - 2/20)
*** After this hits initial target it will consolidate in the 146-152 range before making one final leg higher to low 160s by mid-March 2024 (could run as high as 172)
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How to Play this (not financial advice):
- Don't buy/add shares (if you do go light), after this reaches 160-170 it will be the top, after that it will begin a major correction. If you're in shares look to sell in 160-170 range.
- Don't waste your energy playing puts to catch this pullback, instead wait for opportunity to enter calls
- I'll post an update when it is time to enter long
** I'll be looking at March expiration and choose strike based on extent of pullback.
P.S. Check the History
GOOGL Daily Launch PadGOOGL has been riding the 50 EMA on the daily for quite some time. After the late October shakeout down to the 200 EMA, GOOGL has looked very strong and been trending upwards in this accumulation zone. A clean break above $141 should send this to test the high at $150 and beyond.
Big Tech Stocks: Macro Fib SchematicsThis one might be a doozy to look at and I understand. However... Companies that make up trillions of dollars of the broader market are obviously going to be extremely complex using Mathematical Fib Schematics.
These schematics were NOT easy to organize and lay out together so give me a break.
Each one of these companies has MULTIPLE Fib tools on each of them. This is called Fibonacci Clustering. You can also call it a cluster F***...
All I can say for this one is, You either see it or you don't. I am certain of the veracity of these charts so I don't care what plebs have to say about how this looks. I am the ONLY person who has ever laid this out so perfectly you will EVER see. Quote me on it because good luck finding this material literally anywhere on the internet unless you break into Blackrock's HQ.
Easter Egg: Click Logarithmic mode on NIVIDA for an extra Fib view of why NIVIDA topped out where it did.
EOY Review $GOOG strong year heading into exhaustion levelNASDAQ:GOOG
Magnificent 7 did great this year, GOOG included
strong close, 4 green quarters in a row
exhaustion risk -for what it's worth- around that 152 level
will be interesting to see how this level (and similar levels for the other big 6) will play any role in what the big guys/institutes will do here
let's watch and see, anything can happen, incl. big tech (check out '22)
Unveiling the Synergy Between MAP Protocol and Google Cloud
In the fast-evolving landscape of technological advancements, a groundbreaking partnership has emerged that promises to redefine the intersection of blockchain and cloud computing. Google Cloud, a powerhouse in the tech industry, and MAP Protocol, a trailblazer in peer-to-peer interoperability, have joined forces to create a synergy that opens new frontiers for developers and investors alike.
The collaboration marks more than just a fleeting alliance; it lays the foundation for an ongoing technological revolution. A Google Cloud representative expressed genuine enthusiasm for the partnership, underscoring its pivotal role in driving technological progress. The integration of MAP Protocol's peer-to-peer interoperability with Google Cloud's robust infrastructure is poised to enhance accessibility to blockchain for developers of all levels, paving the way for a new era in decentralized solutions.
What sets this partnership apart is its strategic vision for the future. In the months to come, MAP Protocol plans to harness the cutting-edge technology offered by Google Cloud to elevate the Web3 developer experience. This forward-looking approach not only ensures continuous innovation but also positions NASDAQ:GOOGL as a frontrunner in shaping the landscape of decentralized technologies.
Investors keen on tapping into the future of technology have reason to be excited. Google Cloud's state-of-the-art technology is set to provide MAP Protocol with the tools needed to create a supportive and solidified builder experience. This, in turn, will facilitate a seamless transition from Web2 to Web3, placing NASDAQ:GOOGL at the forefront of the next wave of technological evolution.
The collaboration is strategically positioned to catalyze the growth of the Web3 industry, making decentralized blockchain technology more accessible to developers worldwide. The rising trend in Alphabet A stock prices underscores the positive sentiment among investors, indicating a strong buy interest. The stock, currently testing support at $140, presents a pivotal moment for investors. A positive reaction at this support level could signal an upward trajectory, aligning with the overall rising trend channel in the medium to long term.
Investors seeking to capitalize on positive developments and be part of the transformative journey into Web3 should take note. The MAP Protocol and Google Cloud collaboration positions NASDAQ:GOOGL as not just a stock but a gateway to the future of technology. With ongoing advancements and a commitment to enhancing the Web3 developer experience, Alphabet A stands as a compelling investment opportunity for those who recognize the potential of this groundbreaking partnership. As the collaboration unfolds, NASDAQ:GOOGL emerges as a beacon for investors looking to ride the wave of innovation in the tech industry.
GOOGLE: Bearish - BUTTERFLY 113 detectedGOOGLE: Bearish - BUTTERFLY 113 detected
The market may fall in the PRZ zone
Monitor the EMA.50 and EMA.200
as well as the Bollinger and ICHIMOKU bands
ACENT $0.009 a Web 3.0 Browser Project | Smells like Google reminds me of Google or closely BRAVE BAT with $2bn valuation
this could go a long way when it plays the SEARCH ENGiNE just rght for the next gen
acent.tech
NOTE
size your entries get volume and good lucks
AnSys ANSS is in DCA range: Ai, Big Data, MechanicsThis company is a juggernaut of IP/ software/ Big Cap Tech & manufacturing clients
Buying anywhere near $270 or less will be profitable in a year or two
Google Cloud to Run Validator on Crypto Gaming Network XPLAGoogle Cloud will be the first “volunteer validator” on the XPLA gaming chain, adding to Google's growing list of crypto allies.
XPLA, a blockchain network founded by major South Korean game publisher Com2uS, has enlisted Google Cloud as its first “volunteer validator” for the network.
Blockchain validators verify and confirm transactions to support the network. In the case of XPLA, volunteer validators are not rewarded with tokens for supporting the network. Instead, the tokens are distributed to a community pool.
That's the plan, at least. The XPLA network is currently voting on the proposal to institute the volunteer validator feature, and it has 100% votes in favor as of this writing.
XPLA is built on Tendermint, the same protocol that powers the Cosmos network, and it’s also compatible with the Ethereum Virtual Machine. Notable games that run on XPLA include The Walking Dead: All-Stars, Summoner’s War: Chronicles, and Ace Fishing: Crew—all based on existing IP that has been adapted for “play-to-own” blockchain games.
The network was originally established as C2X and built on Terra, the network that lost considerable traction after the collapse of the UST and LUNA tokens in May 2022. The XPLA network was then launched in August 2022. Other XPLA validators include metaverse investor Animoca Brands and mobile game developer Gumi.
Google Cloud has previously signed on to run a validator on a few other blockchain networks, including Solana, Tezos, Aptos, Ethereum scaling network Polygon, and DeFi network Celo. It also collaborated with exchange Coinbase to accept cryptocurrency payments.
In April, Google Cloud launched its Web3 Startups Program to offer additional benefits for crypto firms in partnership with networks like Solana, Aptos, Near, and Hedera.
GOOGLE: Strong buy for $155.Google opened today under the 1D MA50, neutral on its 1D technical outlook (RSI = 48.601, MACD = -0.240, ADX = 32.196). Through out 2023, a 1D RSI value below 50.000 has been a buy opportunity and even more so now that the price is near the bottom of the twelve month Channel Up. This consolidation during the last Bullish Leg of the Channel Up (April 6th - May 5th), was the last buy opportunity before the stock resumed the rise and peaked over the 1.618 Fibonacci level for a HH. We are buying again on GOOG, this time aiming over its All Time High, exactly on the 1.618 Fibonacci (TP = 155.00).
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📈 Google Analysis - A Conundrum! 🚀Our entry into Google was perfectly timed, thanks to the limit order. Now, we face the challenge after our subordinate 5-wave structure, where we completed Wave 1 with an abrupt Expanded Flat (a, b, c). The question arises: is this already Wave 2, or is it Wave ((a))? Currently, it appears to be a triple correction upward, specifically a Regular Flat.
Possibly, there might be a downward correction, perhaps to a Double Bottom around $128, the level of our entry. That would then finalize Wave 2. This scenario is possible, though not definitive. There could be another decline in Google in the coming days before it takes a decisive upward turn. 📈🚀
Alphabet Inc. (NASDAQ: GOOG) Currently in an Uptrend MoveGOOG is currently in an uptrend, as it is above the 50-day EMA, the 100-day EMA, and the 200-day EMA. The 50-day EMA is also above the 100-day EMA and the 200-day EMA, indicating a strong bullish momentum. The stock recently bounced off the 50-day EMA, which acted as a support level, and broke above the previous resistance level of $1,500. The next resistance level is around $1,600, which is the all-time high reached in October 2020.
The stock may face some profit-taking or consolidation near this level, but if it breaks above it, it may continue its uptrend. The next support level is around $1,450, which is the previous resistance level and the 50-day EMA. If the stock breaks below this level, it may indicate a weakening of the bullish trend and a possible reversal. The next support level is around $1,350, which is the 100-day EMA and the previous support level. A break below this level may confirm a bearish trend change and a possible death cross.
Price Action Volume _ GOOGLPrice Action &Volume are essential components of technical analysis in trading, and combining them can create a powerful strategy.
Remember, success is guaranteed only when combined with crucial risk management.
GOOGLE Buy the pull-back for a $145 Santa's rally.Alphabet Inc (GOOG) gave us a great +20% pre-earnings bullish signal last time we looked at it (July 25) that hit the $140.00 target before pulling back (see chart below):
Right now the price is above the 1D MA50 (blue trend-line), within two Channel Up patterns, with the latter being the (diverging) dotted one. With the 1D RSI hitting its Lower Highs trend-line that has caused technical pull-backs since July 28, we expect a short-term correction near the 1D MA50 and then rebound to price the Channel Up Higher High at $145.00. That will complete a +20% rise from October's bottom, which has been the average % rise for a bullish sequence within 2023.
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GOOG: Technical Trade AnalysisOur portfolio is up by 17% over the last month 🍾🍾. Here is the link:
www.tradingview.com
Here is the latest analysis of our GOOG trade:
Analyzing the provided chart for Alphabet Inc. (Google) Class C on NASDAQ (GOOG), we can consider several key aspects to determine potential exit strategies in line with Mark Minervini's swing trading approach:
Moving Averages: The stock is currently trading above the 50-day moving average (MA), which often acts as support in an uptrend. As long as the stock remains above this moving average, it could be considered to be in a healthy uptrend.
Volume: There is no visible volume spike on the entry day; however, subsequent days show average to above-average trading volume, which is generally positive for a continued uptrend.
Bollinger Bands: The price is approaching the upper Bollinger Band, which could be an area of potential resistance. Some traders might consider taking profits as the price touches or breaches this upper band, especially if it coincides with other signs of overextension.
Relative Strength Index (RSI): The RSI is approaching overbought territory but is not yet above the 70 level, which might suggest caution but not necessarily an immediate exit.
MACD (Moving Average Convergence Divergence): The MACD line is above the signal line and above the zero line, which is bullish. There is no immediate sign of a bearish crossover, which would be a potential exit signal.
IBD RS (Investor's Business Daily Relative Strength): The IBD RS line is trending upwards, indicating the stock is performing well relative to the market.
Considering Minervini's strategy, which typically involves selling on strength rather than weakness, potential exit points could be:
Break of Trendline: If the stock breaks below the short-term moving average or a trendline support, it could be an indication to exit, especially if the volume increases on the downside.
Technical Weakness: Any bearish reversal patterns, such as a bearish engulfing candle or a high-volume decline through the 50-day MA, could signal an exit point.
Profit Target: If the stock reaches a predetermined profit target, such as a percentage above the buy point or a previous high, it might be a good time to take profits.
Time Stop: If the stock hasn't met the expected price target within a specific time frame, it might be prudent to exit the position to avoid opportunity costs.
Given these considerations, it's also important to have a pre-determined trailing stop-loss to protect profits. If none of the exit criteria have been met but the stock continues to make higher highs and higher lows, maintaining the position with a trailing stop-loss could be a suitable strategy, adjusting the stop-loss upwards as the stock appreciates. Remember to continuously monitor the position and market conditions, as things can change rapidly.
Google In Talks To Seize Major Stake In UK Challenger MonzoAlphabet, the parent company behind Google, is reportedly on track to seize a major stake in the digital retail bank Monzo as it leads investors in a fresh funding round.
Alphabet will leverage its independent growth fund Capital to pour between £300 million and £500 million into the UK-founded challenger, valuing it above £4 billion, Sky News reports.
Also set to include new and existing investors, sources tell Sky News that the round could close before the end of the year, however final details are yet to be released.
The challenger last raised over £377 million ($500 million) in December 2021 in a Series H funding round led by Abu Dhabi Growth Fund, with participation from Accel, General Catalyst, Goodwater, Passion Capital, Octahedron and Thrive along with new investors Coatue and Alpha Wave Ventures.
Last month, Sky News reported that Monzo was looking to raise £300 million in fresh funds through a share sale, and is believed to have engaged with a number of blue-chip investment funds.
The move is thought to be clearing the way for the challenger to go public, while ex-Cash App head Conor Walsh and Brolly founder Phoebe Chibuzo Hugh have been brought on-board to lead both its product and market expansions.
It’s not clear when or where Monzo will induce a stock market floatation, but Alphabet and its long history of acquiring companies that go public inching ever closer into its ownership structure could provide the finishing touches to its final preparations.
Price Momentum
GOOGL is trading near the top of its 52-week range and above its 200-day simple moving average.
What does this mean?
Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.
GOOGLE: Second major bullish wave already under way.Google closed the week over the 1D MA50 with the 1D technical outlook bullish (RSI = 57.062, MACD = 0.820, ADX = 43.635) again for the first time since October 24th. The rally since October 27th low is the second major bullish wave of the Channel Up pattern that Google is trading inside for almost 12 months.
We expect the first part of this wave to peak after completing a +20% move (TP1 = 146.00). But on the longer term, the overall wave should make a HH at the top of the Channel at around +45.50% from the bottom (TP2 = 175.00). The 1D RSI is trading inside a Channel Down, suggesting a decelerating trend.
See how our prior idea has worked:
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