Along with other leading megacap technology stocks, (NASDAQ: GOOG)(NASDAQ: GOOGL) has enjoyed stellar gains so far in 2023. The search and digital advertising giant's share price is up approximately 57% year to date. The valuation momentum pushed the company's market capitalization to roughly $1.75 trillion.

Even though Alphabet has been a big winner recently, there are signs that the stock still has the makings of a smart long-term investment. Check out the following chart documenting the company's free cash flow (FCF) yield and read on for a closer look at why this trillion-dollar tech leader could be a great portfolio addition. 

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Source Fool.com