Corporate warfare is a thing; staying on top of the metaphorical mountain is hard, especially in the technology sector, where innovation and competition are constantly nipping at your heels. But it's not impossible. Technology leaders Microsoft (MSFT -0.90%) and Alphabet (GOOG 0.20%) have enjoyed years of dominance and are still going strong.

Their businesses carry lucrative profit margins, massive size, and fortress-like balance sheets with billions of dollars in cash at their disposal. Despite falling 30% (Microsoft) and 40% (Alphabet) from their highs, they're too large to duplicate their historical returns. However, you can buy both names today and hold them indefinitely, and here is what makes them the ultimate buy-and-hold stocks.

1. A colossal business with equally impressive profits

Microsoft began when the personal computer went mainstream. Today, it's a massive conglomerate doing more than $200 billion in annual revenue across multiple business units, including personal and professional software, cloud computing, gaming, and more. Windows operating software goes back to the mid-1980s and still dominates the personal computer market today, a testament to Microsoft's excellence over the years.

There might not be a company today that is as profitable as Microsoft is at its size. What other company is doing $200 billion in revenue and converting a third of that to free cash flow? That's enough to invest in growth, pay a dividend raised for 20 consecutive years, and accumulate more than $100 billion on its balance sheet. 

MSFT Revenue (TTM) Chart.

MSFT Revenue (TTM) data by YCharts.

That much cash is a competitive advantage in itself; Microsoft can cut a check to bolster its footing in virtually any industry. Gaming is an example of that, where Microsoft has built its cloud services into its gaming business and is acquiring game studios to add content to its Game Pass service.

You can see above how consistent Microsoft has been over the years; steady growth and deep pockets offer investors a security blanket that can give them peace of mind while holding the stock. Additionally, analysts are calling for earnings-per-share (EPS) growth averaging 10% annually over the next three to five years, so investors could enjoy more growth over the long term.

2. Alphabet has arguably the deepest pockets on Wall Street

Microsoft may have a hand in many places, but Alphabet's Google search engine might be the world's most powerful single business. Google has a staggering 92% global share of search queries, making Alphabet the gatekeeper of the internet. The company's search engine results determine what you see first when you search the web. Additionally, Alphabet owns YouTube, the second-most-visited website in the world (behind Google), making Alphabet a digital powerhouse.

The company generates $282 billion in annual revenue, mainly from selling ads. Alphabet also has excellent profit margins, turning $0.26 of every revenue dollar into cash profits. Alphabet doesn't pay a dividend but repurchases shares, spending $57 billion over the past year. The rest of the cash goes to Alphabet's balance sheet, which totals $116 billion today. But even more impressive is the company's discipline to avoid debt; Alphabet has arguably the largest net cash (cash minus debt) position on Wall Street at $103 billion.

GOOG Revenue (TTM) Chart.

GOOG Revenue (TTM) data by YCharts.

It remains to be seen what Alphabet does with its cash hoard, but at the very least, it offers investors financial security as they hold shares. Never say never, but it's hard to imagine a competitor knocking Google and YouTube off their perch anytime soon -- they have a massive gap between them and the third-most-trafficked website (Facebook).

Alphabet could easily continue buying back shares and stacking cash; analysts believe the company's EPS will grow 11% annually over the next several years. A slump across the advertising industry caused YouTube's revenue growth to stall this year, but that shouldn't last. Statista estimates the global digital ad market could grow from $566 billion to more than $700 billion by 2025. Alphabet's stranglehold on web traffic should ensure it benefits from that for years to come.