Technology investors are forever looking for the next best thing. However, a prudent investment might be in companies that have already proven successful and established themselves in their respective industries. 

Savvy investors have an opportunity to buy two excellent stocks to hold for 2022 and long after. Alphabet (GOOG 0.11%) (GOOGL 0.09%) and Shopify (SHOP -2.56%) are dominant forces in digital advertising and e-commerce, respectively. These are two industries with strong secular tailwinds that could propel growth in the long term. 

Alphabet is approaching $100 billion in annual profits

Alphabet is arguably the most dominant advertising company in the world. It's home to Google Search and YouTube, two of the most widely used ad-supported products. According to Statista, Google Search holds an astounding 83% market share in search engines globally. Similarly, YouTube boasts 2.6 billion monthly active users. Of course, advertisers follow consumers, which means the popularity of these services has attracted marketers looking to influence purchasing decisions.

GOOG Revenue (Annual) Chart

GOOG Revenue (Annual) data by YCharts

As a result, Alphabet's revenue has expanded from $55.5 billion in 2013 to $257.6 billion in 2021. Operating income increased from $15.4 billion to $78.7 billion in that same time. Alphabet's popularity has turned into tangible profits that could extend in the long term. Marketers spent $763 billion globally in 2021, a 22.5% increase from the previous year. Interestingly, the share of spending has increased on digital channels from 52.1% in 2019 to 64.4% in 2021. That trend is unlikely to reverse as digital advertising offers benefits unavailable by other methods.

Shopify's revenue has boomed

Similarly, Shopify is operating in an industry that is poised for growth. The company helps merchants establish and improve its online sales channel, a business that boomed because of the onset of the pandemic. However, Shopify's growth has slowed recently as consumers are eager to get out of the house and shop in person, at least temporarily. Over the longer run, a more significant share of spending is shifting online. According to Statista, 14% of spending in the U.S. was online in 2020. That figure is forecast to grow to 22% by 2025.

SHOP Revenue (Annual) Chart

SHOP Revenue (Annual) data by YCharts

Shopify earns a monthly premium from merchants on the platform, and it takes a percentage of their revenue. So, as people spend more money online, Shopify stands to benefit. Already, Shopify's business has exploded from the trend in recent years. Revenue surged from $24 million in 2012 to $4.6 billion in 2021. That helped the company reach operating profitability of $269 million in 2021 after reporting an operating loss of $2 million in 2012.

Shopify and Alphabet stocks are relatively inexpensive

SHOP PS Ratio Chart

SHOP PS Ratio data by YCharts

Fortunately for savvy investors, Shopify and Alphabet stocks are not expensive. On the contrary, they are relative bargains. At a price-to-sales ratio of 10, Shopify has hardly ever been cheaper when measured by this metric. Alphabet's price-to-sales ratio of six is on the lower end of its historical average. Investors looking for smart buys can feel good about adding Shopify and Alphabet stocks