Alphabet remains under pressure after the Big Tech sell-off. On the 4-hour chart, GOOGL is trading near $345 after pulling back from the $400 area, confirming a shift from a strong uptrend to a correction.

Alphabet’s inclusion in the Dow Jones Industrial Average from June 29, replacing Verizon, supports interest in the stock, but it has not yet changed the short-term technical weakness.
AI and talent risks
The main news in recent days is linked to concerns that Alphabet may be losing ground in the AI race. Investors reacted negatively to reports of key specialists leaving Google DeepMind and Gemini for competitors including Anthropic and OpenAI. This raised questions about the company’s ability to retain top AI teams amid aggressive hiring by OpenAI, Anthropic, Meta and Microsoft.
Financial results and cloud
Fundamentally, Alphabet’s business remains strong. In Q1 2026, the company reported revenue of $109.9 billion, up 22% year over year, while Google Cloud grew 63% to $20 billion. Search also continues to show resilient momentum thanks to AI features, while demand for cloud AI services supports the long-term investment case.
AI capex and regulatory pressure
The weak point for the stock’s valuation is rising spending on AI infrastructure. The market is closely watching Alphabet’s major capital investments in data centers, as investors want to see not only revenue growth but also a clear return on AI investments. Antitrust risks around Google Search, the advertising business and Google Play rules also remain an additional overhang.
Technical picture and conclusion
On the chart, GOOGL has dropped below short-term moving averages and approached the important $340-345 zone, where the long-term moving average is located. A break below $340 would increase the risk of a decline toward $330-325, while for recovery buyers need to push the stock back above $350-355 and then consolidate above $365-370. As noted in Google corrects after rally despite strong Alphabet results, strong Cloud and Search results support the fundamental case, but while the price remains below short-term moving averages, rebounds may stay technical.
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