Updated: Aug 31
Fears of recession seems to have gripped Wall Street ahead of Big Tech earnings. US indices finished in deep red today. Alphabet/Google and Microsoft reported earnings today. Microsoft seems to have beaten on both top and bottom line while Google seems to have done the opposite. I haven't had a chance to direct the earnings yet but preliminary data seems to indicate that GOOGL's YouTube ad revenue missed estimates by huge margin so much that the beat in Google Ad and Cloud was not sufficient to have an overall beat. Need to check what came out of earnings call from MSFT and GOOGL to gauge next quarter and year. I had bought some GOOGL in small quantity during its sell-off but was cautious (thankfully!) as I had mentioned in my previous blog so I'm hoping that $70B share buyback announced by GOOGL will hopefully not keep the stock down for too long. Remains to be seen but this is why I think gScore based dollar cost averaging will come in handy.