Alphabet Inc. is in the spotlight as it prepares to release its earnings report after the market closes on February 4, 2025. The tech giant's stock has been on an upward trajectory, recently hitting a record high of $205.48 per share. Analysts are anticipating a strong performance, with expectations set at a gain of $2.12 per share on $81.38 billion in revenue. The so-called Whisper number, which represents the Street's unofficial view, suggests an even higher gain of $2.18 per share. This optimism is partly fueled by Alphabet's advancements in artificial intelligence and autonomous driving technology, which have been key growth drivers.
The anticipation surrounding Alphabet's earnings has led to heightened trading activity in its stock, which is positively impacting the Direxion Daily GOOGL Bull 1.5X Shares ETF (GGLL). The ETF, which aims to amplify the performance of Alphabet's stock, has seen increased interest as investors position themselves ahead of the earnings announcement. The broader market sentiment towards technology stocks, particularly those involved in AI, has been buoyant, further supporting the ETF's upward movement.
The Direxion Daily GOOGL Bull 1.5X Shares ETF (GGLL) is currently trading at $52.50, reflecting a 3.37% increase from the previous close.