Alphabet (GOOGL) closed Oct 28 at $324.89, then plunged after Q3 earnings, first about 9% after hours to around $294.6-294.85 and then to about $285.91-286.32 on Oct 29, down about 11.6-12% on Gate and KuCoin perps.

Alphabet (GOOGL) closed Oct 28 at $324.89, then plunged after Q3 earnings, first about 9% after hours to around $294.6-294.85 and then to about $285.91-286.32 on Oct 29, down about 11.6-12% on Gate and KuCoin perps.

The selloff came despite record revenue of $127.58B and Cloud revenue more than doubling to $30.7B, up 103% vs about $29.1B expected, because EPS was $2.12 vs $3.00-3.02 expected on an $8.7B loss on equity investments, Search grew 12% to $63.4B vs $64.9B expected, slowing from 17%, and capex was $51.4B with free cash flow negative $9.07B, the second negative quarter in a row, per Coinbureau and KyleReidhead.

Today coinbureau puts the drop at nearly 15% intraday, erasing roughly $520B in market value and dragging the Nasdaq down 1.4%, framing it as investors demanding proof AI spending can generate cash, with capex exceeding operating cash flow versus Microsoft holding up better on Azure up 48% to $33.2B and free cash flow of $18.63B.

CrytoMichNL calls the 10%+ after-hours move non-organic, blaming active speculators in an attention economy and stretched valuations at the end of the cycle, saying he would not buy the dip yet unless rates stay calm. Bitget News adds the $290-295 zone as initial support to watch, with a reclaim of $300 opening $316-326 and a high-volume break below $290 risking a new leg down.