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LivestreamMenuWall Street did not like what Alphabet had to say about its second quarter. The parent of Google and YouTube reported cloud revenue growth of more than 80% from the year-earlier period in Q2, though it also hiked its full-year spending outlook . Alphabet expects capital expenditures between $195 billion and $205 billion, up from a previous range of $180 billion to $190 billion. Shares fell more than 5% in the premarket. That move put Alphabet around $324 — just below its 200-day moving average. If the stock fails to recover back above that level, it could add more pressure to the broader market and raise the stakes for other megacaps set to report next week. “Hyperscalers have bounced while many hardware company stocks have [pulled] back,” wrote Jason Hunter, technical strategist at JPMorgan. “If the hyperscalers come under renewed pressure while semiconductors retain their vulnerable chart setups, what started as a rotation within the broader AI-theme could shift into a more pronounced position unwind.” Alphabet shares have been rangebound since mid-June. The stock has mostly remained between its 50-day and 200-day moving averages in that time. If Alphabet closes below its 200-day, it’ll mark the first time since June 2025 it fails to end the day above that mark. Microsoft , Apple , Meta Platforms and Amazon are all due to report their latest financial results next week. Alphabet’s move Thursday could preview what’s to come for them — if their results fail to impress investors.Read More
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