(NASDAQ: GOOGL) (NASDAQ: GOOG) has been a wildly successful investment throughout its history. Since going public in 2004, shares have climbed a jaw-dropping 5,360%. This gain is astronomically higher than the return someone would've achieved by investing in the Nasdaq Composite index (up 681% over the same timeframe).

But past performance isn't necessarily an indicator of how a stock will do going forward. Here are two compelling reasons to consider buying this FAANG stock right now to take advantage of its future growth. If you already own the stock, there's also one reason you might want to consider selling.

Alphabet's dominant competitive position can largely be attributed to the deep economic moat its has built around its business. An economic moat is a term made popular by famed investor Warren Buffett that describes traits in a company's business model that help keep potential rivals at bay. For long-term investors, a deep moat is one of the most important characteristics found in successful stocks. That's because an economic moat raises the chances that a company remains competitive over many years.

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Source Fool.com