Diamonds and Dogs

10/30/20

Google/Alphabet (GOOG) bucking the trend. The search engine is up 4% following strong earnings. Google beat earnings estimates by 45% as sales rose 14% to $46.17 billion ahead of estimates of $42.84 billion. It was a record sales quarter as Google saw strong demand for their cloud services along with a return of online ads particularly on Youtube.com.

Big tech taking a hit. Amazon (AMZN) is down 4%, Apple (AAPL) is down 5% while Twitter (TWTR) is down 20%. Amazon, Twitter and Apple all beat estimates, but Twitter's reported just 1 million new users in the quarter verse estimates of 10 million. The third quarter growth was the slowest sequential growth since late 2017.

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