Google as it’s more commonly referred to has corrected 33% from its 2021 high in a very similar manner to Apple Inc i.e. same sector quality stocks moving as one.
- Google is yet another example of a stock that popped to fresh highs (in February) before failing badly – one of the stories of 2022 to-date.
- In an ideal world, we will see a reverse mirror-like move on the downside later this year which is one of the reasons we believe stocks like AAPL and GOOGL are accumulates as opposed to outright buys.
MM likes GOOGLE around $US115
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NB We didn’t cover Microsoft (MSFT US) this morning, which isn’t actually in the FAANG acronym, primarily because it’s an almost carbon copy of Google both in terms of its quality, valuation and chart/position.
