Down 22%, Is Alphabet Stock a Buy in 2023?
As the home of such products as Google, YouTube, Android, Google Cloud, and more, Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) is an internet giant that will likely remain a dominant company long into the future.
The company's stock sank 39% throughout 2022 alongside a tech sell-off. However, optimistic investors have pumped up Alphabet shares by over 13% since Jan. 1 as the market gradually recovers. The Google parent is not out of the woods yet, with a looming recession likely to continue burdening advertising revenue.
However, Alphabet's stock remains an excellent long-term buy thanks to its significant market share in multiple industries and plans to reduce operating costs.
Source Fool.com
