Google shares have just about recovered from Monday's 2% losses after the company announced it was acquiring three year-old London-based AI company DeepMind for $500 million. That came the same day Google and Samsung inked a cross-licensing deal. Samsung is one of the biggest users of Google's Android operating system.
And, then the company dropped this bit of news: wearers of Google Glass will be able to ignore the world around them in clear, 20/20 vision. That's because Google will be adding prescription lenses to its Google Glass thanks in part to a deal with vision care provider, VSP.
According to CNBC contributor Andrew Busch, editor and publisher of The Busch Update, Google's DeepMind acquisition indicates part of the future direction for the company.
"The fact that Google actually created an ethics committee around this purchase tells you that they're starting to get into some really crazy areas," says Busch. "They're trying to increase their capabilities of interface with their users and find out how to better service them."
(Read more: Google buys UK artificial intelligence start-up)
Google's acquisition strategy is also in contrast to that of another tech giant, one which recently disappointed investors with its earnings. "They continue to spend, unlike Apple," says Busch. Apple's cash holdings are nearly $159 billion compared to Google's $54.7 billion.
The company's announcements come just before Google plans to release its quarterly figures. According to Thomson Reuters, the company's most recent quarter is expected to show $16.7 billion in revenues and $12.22 in earnings per share.
The expected revenue growth in particular would be quite a feat since it means Google's top line is anticipated to be nearly 38% more than last year. Last quarter's revenue numbers also are a key to how the company is growing, according to Busch.
"Within the guts of the [previous quarter's] report, they had revenues go up 12% despite declining ad sales, which dropped to 8%," says Busch. "Keep an eye on that for Thursday. Also, let's see if they give us any forward guidance on any kind of revenue they're going to get."
Meanwhile, Talking Numbers contributor Richard Ross, Global Technical Strategist at Auerbach Grayson, says there's no need to wait until Thursday to buy shares of Google.
"I think this stock's got plenty of gas left in the tank," says Ross. "We see a textbook pattern of form. By 'textbook', I mean this pattern of trending followed by consolidation and then another trend. That's how stocks move higher within a bull market."
According to Ross' charts, Google's stock followed an uptrend starting in November 2012. After consolidating in 2013, the stock once gain moved on upwards along a second trend line. With the recent pullback, the stock touched its 50-day moving average.
"I think this is a very nice entry point for people who have been looking at Google and waiting for that correction," says Ross. "You have a little correction staring at you in the face. I suggest you take advantage of it and be a buyer here."
To see more the discussion on Google with Busch on the fundamentals and Ross on the technicals, watch the video above.
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