Key facts
- Alphabet stock flashed a "death cross" on Thursday.
- The technical signal occurs when a short-term moving average falls below a long-term moving average.
- Alphabet reported a miss on earnings per share and revenue in its third quarter.
- The company's free cash flow turned negative for the first time.
- Alphabet projected over $300 billion in spending for 2027.
Alphabet stock entered "death cross" territory on Thursday, a feared technical signal indicating potential further downside. The Google parent's 50-day moving average slipped below its 200-day moving average following a dismal third-quarter report. Shares were down 12% around 11 a.m. ET. The company missed earnings per share and revenue expectations, and its free cash flow turned negative for the first time. Alphabet also signaled over $300 billion in spending for 2027.