Saturday, November 12, 2011

Google Rallies Above $600! (Chart, News) *Up +18% for the quarter* GOOG

GOOG!


Google led Yahoo 65.6% to 15.2% in search engine market share for October 2011


GOOGLE OVERVIEW

Google Inc. GOOG closed at $608.35 on Friday, November 11, 2011. GOOG was up +2.05% for the week, is up +2.65% in November, is up +18.12% this quarter, is up +2.42% for 2011, and is up +109.13% since the March 9, 2009 market cyclical closing low. GOOG is down -4.89% from the 2011 and multi-year closing high of $639.63 on January 18, 2011. That was the highest close since $653.82 on January 14, 2008.

Google Fundamentals Google reported calendar Q3 2011 financial results on October 13 and are reviewed here: Google Reports Record Earnings! (Charts, Video) *Record revenues, net income, cash flow, EPS*. Current Google financial data, charts, and review is at the Google Financial Performance page, updated for the latest calendar Q3 2011 financial results, reported on October 13, 2011. A review and analysis of the Q3 2011 earnings call is at the Google Earnings Conference Call page. Our updated valuation and target price for GOOG stock is posted at the Google Stock Valuation page. Revenues from outside of the United States were 54.53% of total revenues for Q3 2011, up from 53.97% QoQ and from 51.73% YoY.


GOOGLE DAILY CHART

Google Daily Chart Below is the GOOG daily chart since July 7, 2011, including the Q2 and Q3 earnings announcements gaps up, to illustrate the quarterly price interactions.

Noteworthy Closing Prices
Current Close: $608.35
2011 and Multi-Year High: January 18 $639.63
2011 Low: June 24 $474.88
2010 High: November 8 $626.77
2010 Low: July 6 $436.07
YE December 31, 2010: $593.97
YE December 31, 2009: $619.98
Cyclical Low November 24, 2008: $257.44



Google Chart Review
Intermediate Term Trend ascending 25d avg > ascending 50d avg since 10-17-11, GOOG > both, bullish
Long Term Trend GOOG > ascending 10 month ema = 565, bullish
Key Resistance peak 612, 7-26-11 peak 623
Key Support 607, 601-603, benchmark 600, 595-598, 20d avg 593, 591-592
Moving Averages above all: 20d, 50d, 100d, 200d, 300d, 400d avgs
Uptrend Line above since 11-3-11; line from 11-24-08 cyclical closing low 257.44 up thru 7-6-10 closing low 436.07
Downtrend Line below since 1-18-11; line from 11-6-07 closing hi 741.79 down thru 1-18-11 closing hi 639.63
RSI 14 Day = 55.03 is reasonable, ascending
RSI 28 Day = 71.18 is overbought, ascending
MACD (12,26,9) = -0.53, ascending, multi-year low on 8-19-11 (-11.55), multi-year high on 7-19-11 (+10.07)
Volume high 4.0M latest day, 50 day avg = 3.2M
Price Earnings Ratio (ttm) higher 19.71


GOOGLE SUMMARY

Conclusion Google has moved into a 28-day RSI overbought condition. GOOG gapped up (559 to 592) on Q3 record earnings reported on October 13. GOOG continues above this gap up and is up +8.83% since announcing earnings. Google Co-Founder and CEO Larry Page is advancing aggressively with the acquisition of Motorola Mobility, promoting Google+, increasing Android OS and Chrome browser usage, and expanding Google mobile ads. The Q3 2011 financial results are reviewed on the Google Financial Performance page. A review of the Q3 2011 earnings call is posted on the Google Earnings Conference Call page. We reiterate our forecast that Google should have better financial performance ahead in Q4 2011. The intermediate-term trend continues bullish. The long-term trend continues bullishMore about the value of GOOG stock on the Google Stock Valuation page.

Disclosure We have no position in GOOG. We continue bullish on GOOG for 2011 and beyond.

Google News A summary of recent news & announcements; others are posted on this blog.
● comScore reported Google had a 65.6% search engine market share for October 2011, up +0.3 from September. Yahoo was 2nd at 15.2%, down -0.3.
● In response to a Senate investigation into Google being a monopoly and anti-competitive, Executive Chairman has called Apple's Siri, the voice recognition personal assistant, a "competitive threat".
● Google Executive Chairman has assured that the Android mobile OS will remain free, after the acquisition of Motorola Mobility is completed, which "won't violate the openness of Android".
● Google TV: LG may unveil its version of Google TV in January, but Logitech has apparently stopped manufacturing its version of Google TV boxes and will exit upon sale of remaining inventory.
● Google has updated the search algorithm to display more relevant results, "Freshness is one component, but we also look at the content of the result, including topicality and quality."
● Google opened a 100,000 square foot Los Angeles office which includes cafes, snack and juice bars, game rooms, a top-flight gym, and plenty of whimsicality.
● Motorola Mobility is trimming down for its impending acquisition by Google. In a regulatory filing, the company announced plans to sack 800 employees - nearly 5 percent of the company’s workforce. “Motorola Mobility continues to focus on improving its financial performance by taking actions to manage the company’s costs.”
● Google and the Federal Trade Commission have announced a settlement whereby Google will submit to biennial third party privacy safeguard audits for the next 20 years. This resolves a complaint over Google Buzz and misuse of users' personal information.
● A Google TV platform update is coming for Sony and Logitech devices, including apps from Android Market.
● ABI Research reported the Android operating system (44%) passed Apple’s iOS (31%) in Q2 as the most popular software platform for application downloads as consumers bought more Android smartphones.
● Google unveiled a significant new tool for advertisers with large Web sites, which it calls Dynamic Search Ads. (Forbes)
● Apple Inc. co-founder Steve Jobs urged Google Inc. Chief Executive Officer Larry Page to sharpen the company's focus and cut products that put it at risk of becoming like Microsoft Corp., according to a biography of Jobs. (Bloomberg)
● Google has doubled its lobbying spending to Congress in the past 2 years via a political action committee. For the 9ME 9-30-11, Google spent $5.9 million. For the 9ME 9-30-10, Google spent $3.9 million.
● Google reported record earnings for Q3 on October 13, 2011.
● Google and Samsung have postponed the Samsung Mobile Unpacked media event on 10-11-11 to launch the Galaxy Nexus smartphone with Android 4.0 "Ice Cream Sandwich". The event was postponed out of respect for the death of Apple Co-Founder Steve Jobs.
● Google announced on October 4 that Google Earth had been downloaded 1 billion times.
● Google continues with data center expansion. One was opened in Oklahoma in September and 4 more were announced in Ireland, Singapore, Hong Kong, and Taiwan.
● Google Executive Chairman Eric Schmidt testified before the Senate Antitrust Subcommittee on September 21 during a hearing examining online competition, "The Power of Google: Serving Consumers or Threatening Competitors?".
● Google and Intel announced a collaborative effort to maximize Intel processor architecture for the Android mobile OS.
● Google Offers, a daily deal effort to compete with Groupon and LivingSocial, has already experienced a decline in revenues in August even though the program is only 3 months old.


ABOUT GOOGLE

Google Data Google's market capitalization is 11th worldwide at $196.43 billion. This is behind #2 Apple, #5 Microsoft, and #6 IBM. Google is the 4th largest technology company in the world by market capitalization behind Apple, Microsoft, and IBM. Current Google financial data is at the Google Financial Performance page. A review of the Q3 2011 earnings call is at the Google Earnings Conference Call page. More about the value of GOOG stock on the Google Stock Valuation page. Headcount: On a worldwide basis, Google employed 31,353 full-time employees as of September 30, 2011. Google is compared to other giant technology companies here [Largest USA Tech Companies: Financial Performance & Position Review].

GOOG! Google describes itself in press releases as, "Google's innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin, Google today is a top web property in all major global markets. Google's targeted advertising program provides businesses of all sizes with measurable results, while enhancing the overall web experience for users. Google is headquartered in Silicon Valley with offices throughout the Americas, Europe and Asia."

Google's Mission Statement "Google's mission is to organize the world's information and make it universally accessible and useful. The first step toward fulfilling that mission came when our founders, Larry Page and Sergey Brin, working out of a Stanford University dorm room, developed a new approach to online search that quickly spread to information seekers around the globe. Google is now widely recognized as the world's largest search engine -- a free service whose utility and ease of use have made it one of the world's best-known brands almost entirely through word of mouth from satisfied users."


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