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Alphabet tumbles on earnings, but traders see a buy

VIDEO2:5302:53
Why this trading pro doesn't see Alphabet losing any momtentum

Alphabet is tumbling on earnings.

The Google parent fell more than 2% after the bell Monday after posting $10.12 in profit for the third quarter, $2.34 less than expected.

However, the third FANG name to report remains the best performer this month, rising more than 6% and besting gains in Facebook, Amazon and Netflix.

"I actually used that strength … to add to my portfolio last week," Todd Gordon of TradingAnalysis.com said on CNBC's "Trading Nation" on Monday before the release. "We've just been bumping up against this $1300 region and the rest of the FANGs have not. I'll even point your attention to Google relative to the Nasdaq. You're even seeing Google outperform the Nasdaq-tracking [ETF]."

The QQQ Nasdaq ETF has risen 1% in the past three months, a quarter of the gains seen in Alphabet stock.

"I don't see it losing any of its momentum," Mark Tepper, president of Strategic Wealth Partners, said during the same segment. "It is the fastest-growing company in the world with over $100 billion in annual sales.

Tepper adds that its diversified business model also works to its advantage, helping it to derive revenue growth across the company.

"They're the number one player in digital advertising and companies continue to move away from traditional advertising towards digital. Their cloud business is growing at 33% year over year, Google Maps has over a billion users that haven't been monetized yet and quite frankly I think YouTube is an underappreciated asset," he said.

Disclosure: Gordon and Strategic Wealth Partners hold positions in Alphabet.

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