1 Trillion-Dollar Growth Stock Down 11% You'll Regret Not Buying on the Dip

July has come to a close, and the world's biggest technology companies just finished reporting their financial results for the quarter ended June 30. Challenging economic conditions led to a slowdown in growth across the tech sector over the past 18 months, so investors are eager to get their hands on every new quarterly report to assess how companies are faring. 

Google parent Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) was the standout performer among its big-tech peers this time around. Its stock price jumped 7% the day after it reported its second-quarter results, thanks to signs the advertising market is recovering and a strong performance from its cloud business.

Here's some better news for investors: Alphabet stock still trades 11% below its all-time high, and it's incredibly cheap compared to its peers. Here's why it's a great buy right now.

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Source Fool.com