GOOGLE(#GOOGLE) weekly special report based On 1 Lot Calculation:
ARTIFICIAL INTELLIGENCE MARKET
- MARKET SIZE: The global artificial intelligence (AI) market size was estimated at US$ 119.78 billion in 2022 and it is expected to hit US$ 1,591.03 billion by 2030 with an annual growth rate of 38.1% from 2022 to 2030. The North America artificial intelligence market was valued at USD 51 billion in 2021.
- GLOBAL MARKETS: The biggest AI companies in the world include GAFAM (Google, Apple, Facebook, Amazon, and Microsoft) and BAT (Baidu, Alibaba and Tencent). Recent advances in the field of AI made possible implementation in all other industries. After Chat GPT went viral, some of the biggest IT companies started the race developing and promoting their own AI chatbots including Google, Baidu, Apple, Microsoft and Nvidia.
ALPHABET:
- THE COMPANY: Alphabet is one of the largest companies in the web and AI industry. The company builds applications and technology that is involved in advertising, social networking and augmented and virtual reality.
- REVENUES AND INVESTMENTS: In the fourth quarter of 2022, Alphabet saw its total revenue rise 1% year-on-year (or up 7% in constant currency terms) to US$76.0 billion. The company continues to heavily invest in AI technology and recently invested almost $400 M in ChatGPT rival Antropic. In its Q4 earnings press release the company said that it would begin disclosing investments in AI.
OTHER EVENTS AND ANALYSIS:
- GOOGLE ANNOUNCED ITS OWN AI PRODUCT: Google has announced it will introduce later this year a generative AI tool for its Workspace suite of apps including Google Docs, Sheets and Meet. The company is testing the AI products and making them accessible for a limited number of users of Workspace, which includes Gmail and Google’s productivity tools. Currently, Google Bard is only available to limited beta testers, but Google is expected to roll out a wider launch in the coming weeks and months.
- GOOGLE IS INTRODUCING ITS CHATGPT COMPETITOR BARD to the public last week, starting with tests in the U.S. and the U.K. The waitlist is now open to the public.
- PRICE ACTION: THE STOCK HAS HAD A DOWNWARD CORRECTION OF AROUND 33.00% FROM IT'S ALL TIME HIGH OF $153. The stock has fallen to its lowest rate in more than a year, to $83.5. Alphabet (Google) was last trading around $101, and if full recovery follows recent all- time highs, the stock could see an upside of around 51%. However, the price could decline further.
- ANALYST OPINION: Morgan Stanley forecasts $150, Barclays forecasts $160, Morning Star forecast $154 and Jefferies $130.
GOOGLE (#GOOGLE), March 30, 2023
Current Price:101.00
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|
Weekly |
|
Trend direction |
|
|
150.00 |
|
|
140.00 |
|
|
120.00 |
|
|
82.00 |
|
|
78.00 |
|
|
75.00 |
Example of calculation based on weekly trend direction for 1 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
4,900.00 |
3,900.00 |
1,900.00 |
-1,900.00 |
-2,300.00 |
-2,600.00 |
|
Profit or loss in €² |
4,506.74 |
3,587.00 |
1,747.51 |
-1,747.51 |
-2,115.41 |
-2,391.33 |
|
Profit or loss in £² |
3,965.11 |
3,155.90 |
1,537.49 |
-1,537.49 |
-1,861.17 |
-2,103.93 |
|
Profit or loss in C$² |
6,630.31 |
5,277.19 |
2,570.94 |
-2,570.94 |
-3,112.19 |
-3,518.13 |
- 1.00 lot is equivalent of 100 units
- Calculations for exchange rate used as of 09:50(GMT) 30/03/2023
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