Google and YouTube parent company Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) is a true technology-market giant. And, let’s be honest: The price tag of GOOG stock is also giant. That’s about to change soon, though, and investors ought to own at least one share in advance of a major price-changing event.

Of course, price isn’t everything, and we have to remember that we’re investing in companies, not just stocks. Fortunately, Alphabet is a premier company with interests in multiple technology segments, including the cloud.

Alphabet remains a major revenue generator, yet the company’s shares are actually a bargain. This is even true while the stock is in the quadruple digits. Believe it or not, it’s possible for a stock be expensive, yet cheap at the same time — hang on and we’ll find out how.

What’s Happening With GOOG Stock?

As you’re reading this, GOOG stock will likely be somewhere in the ballpark of $2,300. This might be too expensive for investors with small accounts. Sure, some brokers offer fractional shares, but some don’t. Besides, not everyone is interested in owning a fractional share of a stock.

Nevertheless, if you can afford to buy at least one Alphabet share, it’s worth the high price tag. While $2,300+ is expensive, the stock is actually cheap at the same time. That’s because Alphabet’s trailing 12-month price-to-earnings ratio is quite reasonable, at just 21.

Moreover, as InvestorPlace contributor Thomas Niel reported, Alphabet announced that it will enact a 20-for-1 share split on July 15. Hence, GOOG stock will be more affordable. As a result, many investors with small accounts might suddenly buy the stock, and that could send the share price higher.

Niel brought up another good point, which I admit I didn’t think of. Alphabet’s upcoming share split “could theoretically result in it being added as a Dow Jones Industrial Average component.” If that happens, it “could result in increased inflows from index funds and other passive investment vehicles.”

Buy Now, Smile Later

In other words, the time to buy GOOG stock is now, not after the crowds come rushing in. Granted, not everyone can afford to own a pre-split share of Alphabet. If you can afford it, though, then it’s better to act now than later.

But again, focus on buying a great company first and foremost. Alphabet is an unstoppable tech giant and a massive revenue generator. During 2022’s first quarter, Alphabet generated an eye-watering $68 billion in revenue, up 23% year over year.

Plus, Alphabet just keeps on pushing the boundaries and broadening its business. For instance, the company agreed to acquire cyber defense and response business Mandiant.

As Alphabet explained, by adding Mandiant (and its managed detection and response features) to Google Cloud, the company can enhance Google Cloud’s offerings to “deliver an end-to-end security operations suite with even greater capabilities to support customers across their cloud and on-premise environments.”

What You Can Do Now With GOOG Stock

Google Search, YouTube, Google Cloud and more: Alphabet has a truly redoubtable suite of tech services. It’s a company worth investing in for the long term, at practically any price.

Yet the share price is about to come down soon, and this event could bring more investors into the fold. Still, it’s a good idea to buy GOOG stock now if you can afford it, as there’s plenty of value here and, quite possibly, a limited window of opportunity.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.