Tech Stock Strategist On Google Ahead Of Earnings

Loading...
Loading...

Benzinga’s #PreMarket Prep morning show featured Quantum Trading Strategies CIO and tech stock strategist Sean Udall who offered his take on Google Inc GOOG GOOGL.


Udall acknowledged that he usually has a contrary opinion on Google and that when the stock has been at or below $500 he has often taken long positions including call spreads.


Udall thought "Google will have a better report this quarter because they’ve has so many bad reports recently.”

 

Google missed 5 of the last 7 reports “so...they’re due [for a beat], according to Udall, "and if they’re going to have a smash quarter it’s typically the holiday quarter...this is not a quarter I’d want to be leaning short, I’d much rather be leaning long.”


If, however, the stock had been trading in the low $500s, then Udall “would be pretty aggressive” but had not taken a position in Google at the time of the interview on Monday, when shares of Google were trading in the $530 range.


Since Monday, shares of Google Inc have fallen 6.7 percent and recently traded at $505.73.

Google will report earnings after the market close on Thursday.

Don’t forget to tune in to Benzinga’s #PreMarket Prep broadcast Monday-Friday 8-9:45 a.m. ET for a live, interactive morning show with veteran traders and featured finance industry experts ready to answer your questions for the trading day.
 

Loading...
Loading...
Posted In: Trading Ideas#PreMarket PrepSean Udall
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...