Alphabet has been posting consistent growth over the last decade despite concerns they were falling behind in AI and cloud. There were a few dips, like in 2017 due to EU fines and 2022 when the ad market slowed down while they ramped up R&D spending. Things smoothed out recently though. 2025 was a strong year with revenue and operating income up 15% while net income jumped 32%. The stock had a big run last year as the actual financial results outweighed the bearish stories investors were telling themselves.