The Nasdaq-100 index is trading firmly in bear market territory with a year-to-date loss of 30%, so the financial results of the largest technology companies are extremely important to watch at the moment. 

Earnings season for the quarter ended Sept. 30 is now underway, and Google's trillion-dollar parent, Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG), released its results last week. It revealed a clear slowdown in the most fundamental parts of its business, but the fast-growing Google Cloud was a bright spot once again.

Investors have sent Alphabet stock down 33% in the last 12 months, but here's why they should look beyond the company's recent struggles and focus on the long term -- there are no shortage of positives. 

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Source Fool.com