Thanks to the emergence of artificial intelligence (AI), (NASDAQ: GOOGL) (NASDAQ: GOOG) has been in the news a lot lately. Shareholders are wondering what AI means for the future of one of the leading companies in the digital sector. So far, it must be a positive view, as shares are up 39% this year and 18% in the past month (as of May 19).
Does this momentum mean Alphabet stock is a buy right now? I think the answer to that question is really easy. Here's why this megacap tech stock deserves a place in your portfolio.
Alphabet has crushed the Nasdaq Composite Index's 21% gain in 2023. And over the past five years, the dominant tech enterprise has produced a return of 130%, translating to an annualized gain of 18%. That's a remarkable performance. And it has been spurred by rising sales and profits.
Source Fool.com