It has been a rough year for stocks in general, but especially so for tech stocks. Down 34% year to date (as of Dec. 14), Google's parent company Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) is no exception. There's no telling how Alphabet's stock may perform in the near future, but at current price levels, its long-term potential makes it a buy heading into 2023.

Many companies have seen their stock price drop this year as a byproduct of a bear market and it's no fault of their own. However, Alphabet's stock has been hit a bit harder because of an ad revenue slowdown. There is no question that Google advertising is Alphabet's money maker. Of the $69.1 billion in revenue it made in its 2022 Q3, Google advertising was responsible for over $54.4 billion. This marked a 2.5% increase year over year, but it's considerably less growth than the roughly 43% year-over-year growth it experienced during its 2021 Q3.

Continue reading

Source Fool.com