Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) stock hit an all-time high earlier this year, but it's been downhill ever since. Shares are currently down 11% year-to-date, even as the S&P 500 has gained 10%. What's going on with Alphabet? Many investors are worried about the company's significant spending on artificial intelligence (AI), and the tech leader's latest earnings report has exacerbated these fears, leading to a post-earnings dip. Despite these challenges, Alphabet remains a great stock to buy and hold for the long term. Here are three reasons why. Image source: The Motley Fool.
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