Bulls Look to Alphabet Results to Keep Tech Rally Going
- Google ad business seen powering through privacy concerns
- Alphabet results follow six straight weeks of tech stock gains
When Alphabet Inc. reports results after markets close on Monday, the company’s key advertising business is expected to show few signs of wear from privacy concerns that have weighed on internet companies recently.
The search giant’s fourth-quarter revenue is expected to jump 21 percent to $31.3 billion as marketers spent more on Google ads to reach consumers online. Last week, Alphabet shares rose to the highest levels since October after scandal-plagued rival Facebook Inc. beat Wall Street forecasts and soothed investor anxiety about a privacy backlash by consumers and regulators. Shares of the Mountain View, California-based company rose 1.1 percent at 10:25 a.m. in New York on Monday amid a broader rally in technology and and internet stocks that included Facebook, Netflix, Microsoft and Apple.