The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
Google & Microsoft Showed Strong Q3 Earnings
Information is not investment advice
Google and Microsoft – the US largest tech companies have published strong financial results for the third quarter.
- EPS: $27.99 (forecast: $23.75)
- Revenue: $65.12B (forecast: $63.47B)
- YouTube advertising revenue: $7.20B (forecast: $7.4B)
- Google Cloud revenue: $4.99B (forecast: $5.07B)
Google has shown great earnings and revenue results this quarter that topped analysts' estimates. Advertising and Cloud revenues grew significantly since the same quarter last year but still came out slightly worse than expected. Indeed, the company is facing major antitrust lawsuits now. What are they about?
First, Google has taken 42% of all the money spent on online ads, according to the US court. This signals that Google is a monopolist in online advertising and it can use its power to reduce the competition.
Second, Google has colluded with Facebook to work around Apple's privacy settings to keep tracking their users. Apple has offered its users a choice: to allow or to not allow apps to track them. This initiative has affected negatively ads-oriented companies such as Facebook and Google. However, Google has its Android operating system, that’s why it’s better protected than Facebook.
Google has broken above the 50-day moving average and confirmed the bullish strength. Now, it can rally freely to the resistance level of $2900. Support levels are the recent low of $2745 just above the 100-day MA and the September trough at $2660.
- EPS: $2.27 (forecast: $2.07)
- Revenue: $45.32B (forecast: $43.93B)
Microsoft has revealed a stronger-than-expected set of results for the third quarter. The total revenue rose almost 22% on annual basis. That marked the fastest growth since 2018. Microsoft claimed Azure and other cloud services surged 50% year over year in the 3rd quarter. It’s a great result which has beat even Microsoft’s forecast made 3 months ago.
The stock of Microsoft has hit a record high! It has opened with a gap up near $320.00. If it manages to jump above it, the way up to the next round number of $325.00 will be open. Support levels are the low of October 25 and the 50-day moving average of $300.
Don't know how to trade stocks? Here are some simple steps.
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
The US Federal Reserve may refrain from more aggressive interest rate hikes in March due to geopolitical risks after Russia's special operation in Ukraine…
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.