It wasn't so long ago that people were really concerned about Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). The company was embroiled in lawsuits filed by the Justice Department alleging unfair practices, and ChatGPT posed a direct threat to Google's dominant search business. But Alphabet shook those fears off. The legal threats are gone. Google's AI-powered search is proving to be popular, and Alphabet is having a fabulous year. It's the second-best performing member of the " Magnificent Seven" cohort of stocks, with a 48% gain.