Alphabet Stock Hits Record High After Google Parent Reports Strong Earnings -- Monitor These Key Levels

The measuring principle forecasts a potential upside target of $360. Investors should also monitor major support levels on Alphabet's chart around $235 and $205. Alphabet (GOOGL) shares jumped to a record high Thursday after the Google parent reported earnings that topped Wall Street estimates, as quarterly revenue surpassed $100 billion for the first time. The tech giant's top line received a boost in the third quarter from Google Cloud posting a 34% jump in revenue from a year earlier, as Alphabet customers invest billions expanding their AI infrastructure and data analytics capabilities. Meanwhile, revenue in the company's legacy advertising business grew 13% in the period, signaling that the digital ad market remains stable amid economic uncertainty and increasing competition. The company also raised its capital expenditure spending forecast for the year to between $91 billion to $93 billion, citing booming AI demand. Alphabet shares were up nearly 5% at around $288 in recent trading and have now gained more than 50% since the start of 2025, making it the top-performing Magnificent Seven-member stock this year, slightly ahead of AI favorite Nvidia (NVDA). Investors have cheered the company's accelerating growth in AI and cloud, resilience in its advertising business, and an antitrust win that allowed it to retain its Chrome browser. Investors can forecast a bullish upside target by applying the measuring principle, a technique that analyzes a stock's prior moves to project its next potential advance. When applying the study to Alphabet's chart, we calculate the distance in points of the strong trend higher that preceded the flag and add that amount to the pattern's top trendline. In this case, we add $115 to $245, which forecasts a target of $360. During downturns, investors should initially monitor the $235 level. Traders who avoid chasing breakouts may wait for retracements to the base of the flag pattern, which also coincides with a wide-ranging day on the chart in early September. Finally, selling below this level could see Alphabet shares revisit lower support around $205. This area on the chart, currently situated just above the rising 50-week moving average, may attract buying interest near the stock's prominent January swing high. The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info.

Alphabet Stock Hits Record High After Google Parent Reports Strong Earnings -- Monitor These Key Levels

Інші новини компанії