Despite solid business performance, Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) stock has gotten caught up in the bear-market pullback. The company's share price is down roughly 36% since the stock market peaked on Jan. 3 last year, according to data provided by S&P Global Market Intelligence.

Rising interest rates, high levels of inflation, and concerns about the potential for a prolonged economic downturn have broadly caused investors to move out of technology stocks. Alphabet's share price decline is roughly in line with the 31% decline for the Nasdaq Composite index's level since the beginning of last year. 

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Source Fool.com