(NASDAQ: GOOGL) (NASDAQ: GOOG) has run like a thoroughbred thus far in 2023, riding the ongoing digital transformation, the accelerating adoption of artificial intelligence (AI), and the more broad-based recovery of technology issues. Share prices of the search leader are up 50% so far this year, roughly five times the 10% gains of the S 500. This has been a welcome development for shareholders, who watched as the stock price fell more than 39% in 2022. 

Investor sentiment got a boost from the company's improving financial results, which suggests the rebound in the advertising market may finally be gaining traction. This is crucial for Alphabet going forward, as the sector represents the lion's share of Alphabet's revenue.

What does this mean for investors who sat out Alphabet's current rally? Should they buy with the expectation of future gains or avoid the stock because of its recent run-up and the economic uncertainty that remains? Let's take a look.

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Source Fool.com