Google: Potentially Facing A Sharp Selloff (NASDAQ:GOOG) – Seeking Alpha
Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) will report third-quarter earnings on Tuesday, and expectations are low.
Having said that, I believe Google will retest its support level of $95-96, and the stock may even become oversold next week if Alphabet reports slowing growth in its advertising business.
While expectations are low, Google’s advertising business is likely to have suffered in 3Q-22 as a result of ongoing advertiser pullback, which could lead to a post-earnings selloff.
I’ll be ready to buy a potential 3Q-22 earnings drop and believe that any slowdown in advertising sales growth will be only temporary.
Long-Term Advertising Growth, But There Are Headwinds For The Stock Next Week
According to Tipranks, the market expects earnings of $1.27 per share in 3Q-22, which is the same level of earnings expected in 2Q-22.
Google fell short of Wall Street’s expectations in the fourth quarter due to slowing advertising spending. Google also missed expectations in the previous…
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source: https://news.oneseocompany.com/2022/10/24/google-potentially-facing-a-sharp-selloff-nasdaqgoog-seeking-alpha_2022102434207.html
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