Diamonds and Dogs
A, B, C, easily as 1.2.3. Google, Alphabet, whatever (GOOGL) is up 4% not far from its 52 week high thanks to better than expected earnings. The company reported earnings of $8.42 per share, $0.38 better than estimates. Revenues rose an impressive 21.3% year/year to $21.5 billion beating estimates. The analysts are falling over themselves to upgrade the stock with price targets of $925, $970, $990, and $1100. Tech is back.
Western Digital (WDC) is taking a break today. The stock is down 12% following earnings. The earnings were actually better than expected as sales rose 9%, but it looks like Wall Street was expecting more. In the short term pricing remains weak, but looking forward analysts see brighter skies for Western Digital thanks to improved cost savings from the Sandisk deal and better supply demand and pricing through the second half of the year and into 2017. Looks like the selloff may be a buying opportunity.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.