Alphabet's stock could see its worst day ever
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Alphabet missed across the board on Q3 earnings. Analysts are now worried about its ability to fund the AI buildout as it faces near-term headwinds.
A historic drop for Alphabet's stock dragged the U.S. stock market lower
Plus, the DOJ expanded its criminal investigation into the Alaska Senate race, and the U.S. national debt reached 100% of GDP.
Alphabet flashed the feared "death cross" on Thursday, a technical signal that typically precedes further downside in the price of an asset.
Investors balked at Alphabet pouring $51.4 billion into capital expenditures, like buying data centers and ramping power capacity, in just three months.
Mad Money' host Jim Cramer discusses the recent slate of Big Tech earnings and his takeaways from Alphabet, Amazon and Microsoft.
Alphabet shares are headed for a death cross today, after the stock slid more than 12%. A so-called death cross occurs when the 50-day moving average of a stock price crosses below the 200-day moving average.
Google reported third-quarter revenue and profit that missed analyst estimates as its core search business grew more slowly than expected while boosting its spending on AI again to surpass $50bn.
Alphabet's stock is down nearly 13% after Thursday's open and on track to shed $488 billion in market capitalization on the day, according to Dow Jones Market Data. That would amount to the second largest one-day loss of market cap for any U.
Alphabet and Microsoft reported strong earnings fueled by growing AI demand, even as the tech giants continue investing billions in data centers and cloud infrastructure.
