Alphabet Inc. (NASDAQ:GOOG) $13 billion investment reflects its ambitions to compete with Amazon and Microsoft
Alphabet Inc.’s Google announced Wednesday it will invest $13 billion in new data centers across the United States as it looks to continue expanding its cloud business.
“Today we’re announcing over $13 billion in investments throughout 2019 in data centers and offices across the U.S., with major expansions in 14 states,” CEO Sundar Pichai wrote in a blog post. Pichai said Google will hire tens of thousands of new employees for the operations, which expand Google’s geographical footprint to 24 states, with data centers located in 13 different communities.
The money will be spent over the course of 2019, and will add data centers in Nevada, Texas, Oklahoma, Nebraska, Ohio, Tennessee, Alabama, Georgia, South Carolina, North Carolina, Virginia, and Iowa.
The $13 billion represents over half of Google’s capital expenditures for all of 2018, which totaled $25.1 billion. The investment highlights Google’s intention to continue competing with cloud leaders Amazon Web Services, owned by Amazon.com Inc. , and Microsoft Corp’s Azure.
Google also has a commitment to only purchase renewable energy and plans to only invest in “significant renewable energy investments in the U.S. as we grow,” according to the blog post.
Alphabet’s stock moved up 0.78% to $1,136.43 a share in afternoon trading Wednesday.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 1,093.52.
The projected upper bound is: 1,184.72.
The projected lower bound is: 1,056.88.
The projected closing price is: 1,120.80.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 21 white candles and 29 black candles for a net of 8 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 46.0025. This is not an overbought or oversold reading. The last signal was a buy 1 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 57.67. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 83 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 77. This is not a topping or bottoming area. The last signal was a sell 4 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 2 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed down -1.210 at 1,120.160. Volume was 44% below average (neutral) and Bollinger Bands were 20% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,115.15 1,067.16 1,119.48
Volatility: 31 39 33
Volume: 1,807,987 1,801,866 1,640,027
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
ALPHABET INC C is currently 0.1% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of GOOG.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on GOOG.O and have had this outlook for the last 26 periods.
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