Tech stocks have fallen in September as the market pulls back on its love for names like Alphabet, Amazon, and Apple. But for investors with longer-term horizons, Google is a great play, according to John O\u2019Connell, CEO of Davis Rea, who likes the company\u2019s move into the healthcare space. \u201cI love Alphabet. We own it and have owned it forever. All we\u2019ve done is prune it from a risk-control perspective,\u201d says O\u2019Connell, speaking to BNN Bloomberg on Wednesday. Alphabet\u2019s share price has dropped 17 per cent since early September, along with significant pullbacks to tech more broadly as well as the rest of the so-called FAANG stocks. After gaining 28 per cent in 2019, Google started off 2020 very well before the market ran into COVID-19 and took a plunge. Even so, Google is currently up six per cent year-to-date. Regulatory headwinds have been a constant topic for Alphabet, which has seen its share of legal battles in recent years over antitrust concerns both in the US and the European Union. The latest has EU regulators probing into competition issues surrounding Google\u2019s intended acquisition of health wearables company Fitbit, both in terms of a potential extension of Google\u2019s dominance in online advertising and in terms of Google\u2019s access to Fitbit\u2019s cache of health information related to its users. But O\u2019Connell thinks the outcome of competition investigations surrounding Google won\u2019t slow the company down. \u201cI think Alphabet has a long way to run in terms of innovation,\u201d O\u2019Connell said. \u201cThere are going to be some charges unveiled about them in terms of and it has become very politicized in the US where these companies are attacked \u2014Facebook, Google, Amazon, Apple to some extent\u2014 from politicians around the world. The regulations are going to be somewhat punitive but Alphabet is more than capable of dealing with any fines or penalties.\u201d Alphabet\u2019s move into healthcare seems to be picking up steam as of late. The company\u2019s cloud division made news recently with a $100-million investment in US telehealth provider Amwell, which just IPO\u2019d on the NYSE, while Alphabet\u2019s Verily Life Sciences research branch has started into the health-related insurance field through a partnership with Swiss company Swiss Re. The telehealth sector has been growing by leaps and bounds during the COVID-19 pandemic, and the results have shown in the increase in share price for names like Teladoc Health, whose share price has more than doubled in 2020. O\u2019Connell says moving into healthcare will be a moneymaker for Alphabet in the long run. \u201cAlphabet invests enormous sums of money in research and development, it has an exceptionally strong balance sheet, it has a CEO who I think has a very good vision towards the future and they\u2019re investing vast sums of money in healthcare, which I think is a huge area,\u201d O\u2019Connell said. \u201cGoogle, Amazon, Microsoft, Apple are investing huge sums of money into healthcare, trying to make it more affordable. So, those are the companies \u2014aside from, say, United Health or telehealth companies \u2014that make for very attractive long-term investments,\u201d O\u2019Connell said.