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Google-parent company Alphabet is the second largest company by market capitalisation on Wall Street. Valued in excess of $700BN, the company has led the charge during this 9-year (and counting) equity bull market. Following a stellar run, the stock peaked in January 2018 at just under $1,200 and has fallen -10% to $1,074 at yesterday's close. GOOGL also reported 1Q18 earnings yesterday evening after the bell. The numbers look strong with revenue growth (excluding traffic-acquisition costs) +23% to $25BN, strong earnings and a sharp increase in capital expenditures from $2.5BN to $7.3BN year/year. GOOGL shares popped +4% after hours for a short while but then gave it all back again.

 
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GOOGL has been one of the generals of this bull run and needs to continue to lead the charge higher to confirm the ongoing health of this bull market. The next few weeks trading will be interesting and investors should take note. A run to new highs should lift the entire market and confirm the bull market is still alive and well. A break to new lows however would be ammunition for the bears.

At Secure Investments, I advise individual clients on their pension and non-pension fund investment portfolios. To learn more about my Active Asset Allocator and Gold Trader investment strategies, please get in touch at brian@secureinvestments.ie or 086 821 5911.

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