My arguments are the following:
\- Alphabet has consecutively beat the earnings estimates demonstrating good management.
\- Waymo could grow to generate 200-400 billion of additional revenue in the upcoming years
\- google cloud will contribute to the revenue expansion
\- PE of 21 for a company of this profitability and size is amazing and unparalleled
\- currently trading at the 52 week average
\-the steady increase in research and development costs (currently >50 billion) is what creates value in the long term through innovation
My 2 cents: you can check again this tread in 2027, and the stock price will be >400 USD by then.
Disclosure: not intended as a financial advice, I personally own a significant position in Alphabet, and would be happy to discuss the topic further.