Without a doubt, (NASDAQ: GOOGL) (NASDAQ: GOOG) is one of the best businesses in the world. The tech giant has exposure to many fast-growing areas of the economy, and it often has leading products and services that customers absolutely love.
Shares have made for a wonderful investment, up 66% in the past three years, easily outpacing the broader Nasdaq Composite. Even through the first six months of 2023, shares climbed an impressive 36%. But is Alphabet stock a buy now? I think it is. Here's why.
One of the most obvious reasons to like Alphabet is its strong financial position. As of March 31, the company had $115 billion in cash, cash equivalents, and marketable securities on its balance sheet, providing it with incredible financial flexibility to weather any prolonged economic downturns. At the same time, Alphabet can continue to invest in new growth opportunities.
Source Fool.com