Alphabet Inc. (NASDAQ:GOOG) shares are in the spotlight Thursday, with earnings on deck and a notable technical setup both converging.
- Alphabet shares are trending higher. What’s pushing GOOG stock higher?
Earnings Expectations & History
Alphabet is expected to report second-quarter earnings on July 22 after market close, with analysts forecasting earnings per share of $2.88 and revenue of $113.63 billion. In the most recent quarter, Alphabet reported earnings per share of $5.11, beating estimates of $2.63 by 0.94%. Revenue came in at $109.90 billion, exceeding the estimate of $104.07 billion by 0.06%.
Alphabet has beaten EPS estimates in 8 consecutive quarters. Over the last 4 quarters, Alphabet has averaged an EPS surprise of 0.34% and a revenue surprise of 0.08%.
What To Watch
Google Cloud is in focus after growing 63% year-over-year in Q1, faster than Azure and AWS, especially with Meta’s new cloud compute ambitions signaling fresh competition. Also key: progress on Alphabet’s custom AI chips, as the company begins selling capacity to outside cloud providers, and capital expenditure guidance, set at $180 billion to $190 billion for 2026.
A Bullish Backdrop With Short-Term Wrinkles
From a trend perspective, Alphabet remains extended above its longer-term baselines: it’s trading 16.9% above the 200-day SMA ($319.91) and 9.5% above the 100-day SMA ($341.74), which keeps the bigger-picture uptrend intact. The stock is also 5.2% above the 20-day SMA ($355.64), suggesting the recent rebound has regained some traction.
The near-term moving-average structure is a bit mixed, though: the 20-day SMA is still below the 50-day SMA (a bearish short-term crossover), even as the 50-day SMA remains above the 200-day SMA (a golden-cross backdrop that typically supports longer-term dip-buying). That combination often produces “two-speed” trading—pullbacks can be sharp, but buyers tend to show up as long as the longer averages keep rising.
For momentum, MACD is the cleaner read right now: it’s above its signal line and the histogram is positive, which points to improving momentum versus the prior downswing. In plain terms, MACD being above the signal line suggests downside pressure is easing, and the rebound is gaining follow-through.
- Key Resistance: $404.50 — sitting right at the 52-week high zone ($404.47), a level that often caps rallies on the first retest
- Key Support: $343.50 — near a prior pivot area and close to the 100-day SMA ($341.74), a zone that can attract buyers on pullbacks
Benzinga Edge Rankings
Below is the Benzinga Edge scorecard for Alphabet, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Bullish (Score: 90.21) — The stock’s trend strength is strong versus the broader market, consistent with its 12-month gain of 101.45%.
- Quality: Bullish (Score: 94.79) — The scorecard is flagging strong underlying business/financial quality, which often helps support pullbacks.
- Value: Weak (Score: 27.29) — The stock screens as expensive on traditional value metrics, aligning with its premium P/E of 28.2x.
- Growth: Bullish (Score: 89.34) — Growth expectations remain a key part of the bull case, which can keep the stock sensitive to earnings results and guidance.
Alphabet Shares Edge Higher
GOOG Price Action: At the time of publication, Alphabet shares are trading 0.74% higher at $372.94, according to data from Benzinga Pro.
Image via Shutterstock
