Going below crucial averages is never a good thing. However, in some cases the rebound is pretty sharp. So that is the hope. The stock has remained stuck in a large range with the $920 zone providing a lot of resistance and $850 being the support. Last few days have been a bit negative, and it has moved below the range. The last earnings were not so flawless, but the analysts remain positive on the stock. The acquisitions continue as Google has acquired smartwatch designer WIMM Labs. The acquisition was actually completed in 2012, and WIMM had unveiled its smartwatch design in 2011 that included a full-color touch screen, Internet access and sensors for tracking the owner’s motions. This will help it take on the expected competition from Apple (AAPL) and Samsung. Android’s smartphone mobile app revenues is expected to nearly double to around $6.8 billion by the end of 2013 as per a report. As per the report, android smartphones are expected to “ship by a factor of more than three-to-one to iPhones” this year. Meanwhile the growth in mobile revenues is expected to bolster growth in the near future. Full fledged launch of products like Glass will also help. On the other hand, the risks come from the privacy & patent infringement lawsuits it faces around the world. Those will not be game changers, but the sentiments can be affected. The patent monetizing marked has grown extremely fast with smaller companies like Marathon Patent Group (MARA) taking on huge companies like Cisco (CSCO), Sony etc. recently. Further, not all launches by Google will be successful, and not all earnings will beat the street estimates. So at current valuations, the risks are also there. So it may remain a bit balanced till the next major event. However, the stock needs to bounce quickly else the correction may run deeper.