Google, All Time Highs, and Earnings Szn

I’m in the process of rewatching Silicon Valley and in the beginning of Season 3, Action Jack Barker shares an anecdote about Google and discusses how Google is now worth over $400b.

This was presumably filmed in 2015/2016 and aired in mid-2016. Google is now worth over $800b. It’s amazing to think how one of the world’s biggest companies doubled in size in less than 5 years.

Part and parcel to Google hitting all time highs is the S&P 500 also hitting fresh all time highs.

I’ve written about how there is without a doubt a bearish sentiment right now and people are more scared of the markets than perhaps ever before, but yet we keep seeing fresh all time highs and the fed is looking to cut rates again.

Perhaps the most important thing to keeping the markets on this upward trajectory is the Q3 earnings releases that most major tech companies will be releasing over the next couple weeks.

The tech industry has been under fire with news of overvaluation of SaaS companies and of course, WeWork. A negative “Earnings Szn” will undoubtedly further scare investors off tech companies.

It’ll be an interesting few weeks and I look forward to writing about it.