the train comes off the tracks yet again -
Google is down over 8% as it reported earnings early and surprised to the downside...
GOOGLE 3Q REV. EX TAC $11.33B, EST. $11.83B
GOOGLE 3Q ADJ. EPS $9.03, EST. $10.65
Q3 REVENUE EX-TAC $11.33 BLN VS EXP. $11.83 BN
Q3 NETWORK REVENUE USD 3.13 BLN
As of right now, Google is down 9% and halted trading with Zero Hedge reporting a downside of -12.5% when the stock resumes trading. As I have been saying for years now, this model is unsustainable and therefore will collapse. I mean think about it, in order to be the giant company that it is, Apple has had to -
- Rig international trade to swing production costs (Not that they accomplished this themselves, they merely utilized something that was created)
- Which has polluted the environment in China
- Enslaved entire castes of their people
- Shifted factory jobs from the West to the East
- Selling impoverished Americans who are using their student loans to buy the latest status symbol which they intend to pay back with the jobs that have shifted to China
- Which are locked down and requires expensive tech support or costly hardware for replacement
Facebook was a warning shot. Google is a body blow. The fatalities are coming, soon.