Traders Price ±5% Alphabet Earnings Swing to $368 High or $332 Low

Alphabet reports Q1 earnings after Tuesday's close, with options implying a ±5% swing from recent ~$350 record highs—potentially lifting shares to ~$368 or dropping to ~$332. Coverage kicked off April 26 eyeing similar volatility from Friday's $344 peak, refined April 28 around Monday's $350 close, and confirmed today amid steady consensus for ~$107 billion revenue (+19% YoY) and EPS of $2.73 (down $0.03 on AI spend). Bullish analysts like Citi ($405 target) and Visible Alpha average (~$382, 9% upside) spotlight ad revenue, Google Cloud, and Gemini for post-earnings momentum amid AI-driven tech rally.