Long-term investing is the key to sustainable returns in the stock market because it ignores short-term volatility. But for investors, it's hard to know which companies can stand the test of time. Let's discuss three reasons why the diversified technology giant  (NASDAQ: GOOG) (NASDAQ: GOOGL) looks poised for decades of success.

Despite a 18% rally in 2023, Alphabet stock is still down by a whopping 30% from its all-time high of $150, reached in late 2021. Like many stay-at-home winners, the company has faced a slowdown in growth and margins as pandemic-era trends normalize. Cyclical macroeconomic headwinds like inflation and rising interest rates have compounded the problem.

First-quarter sales grew just 3% to $69.8 million, while operating income fell 13% to $17.4 billion. But while advertisers are cutting marketing budgets amid fears of a future recession, this is a predictable part of the business cycle that doesn't change Google's long-term economic moat, which comes from its 86% market share in desktop internet search. 

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Source Fool.com