Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi Team GOOGL has been sold off hard on ongoing anti trust concerns etc. and is now trading well below it's 200 day moving average. I know this is on the MM hit list for the international equities portfolio so do you guys see this as a buying opportunity, or are there real concerns with pending DoJ actions? If you are still keen, where would your buy entry be? Thanks Alex
Hi Alex,
Your timing is excellent, we sent out an alert to buy GOOGL on Thursday afternoon: Alert.
We see a great risk/reward opportunity in Alphabet (GOOGL US) following its more than 20% correction from its July high. The stock has fallen away with a new antitrust trial under way with the big question being whether it can regain momentum amid market rotation out of the technology sector and artificial intelligence plays.
In July, GOOGL delivered better-than-expected earnings results that showed the search and cloud giant appears on track in the fast-growing AI space. Like most of the “Magnificent Seven” they have evolved into amazing cash cows:
We have initially allocated 5% of our International Equities Portfolio into GOOGL.
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