This wasn't supposed to happen. Given the weakness in the advertising market, Alphabet (NASDAQ: GOOGL) wasn't supposed to have a strong first quarter. But it did. And now, after many investors had lost interest in the tech giant because it looked to be trailing in the artificial intelligence (AI) race, some may be reconsidering.

After its strong Q1 report, I think Alphabet is an absolute buy at these prices -- particularly because one of its most exciting segments just became profitable.

While most of the buzz around Alphabet these days has to do with AI, at its core Alphabet is still an advertising company. In Q1, advertising revenue made up 78% of its total, with Google Search playing a significant role in that figure. Given an uncertain economic outlook, many companies have tightened their ad budgets as marketing is one of the easiest expenses for an organization to control.

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Source Fool.com