It may have come a long way over the past 12 months, but there\u2019s more gas left in the tank for Google and parent company Alphabet (Alphabet Stock Quote, Charts, News, Analysts, Financials NASDAQ:GOOGL). That\u2019s according to Scotia Wealth advisor Stan Wong who says despite the share price appreciation, Google\u2019s businesses are so solid that investors shouldn\u2019t shy away from buying more. \u201cWe continue to own Alphabet in the portfolios and I continue to love that name. It is the undisputed heavyweight champion in the online search market, and no one's going to take that title anytime soon,\u201d said Wong, Director of Wealth Management at Scotia Wealth, who spoke on BNN Bloomberg on Wednesday. One year ago, Wong had chosen GOOGL as one of his top picks for the 12 months ahead, and he couldn\u2019t have been more on target. The stock has lit it up over that period, returning 85 per cent since last September. That\u2019s at a time when its FAANG pals haven\u2019t done as well, with names like Amazon pulling in just five per cent over that span while Apple\u2019s 28 per cent and Facebook\u2019s 40 per cent were a little better. Wong said the variety of Alphabet\u2019s offerings is very attractive, even as its search engine and advertising business remains its key strength. \u201cGoogle\u2019s global share is above 80 per cent. That's going to be strong revenue and cash flow going forward,\u201d said Wong. \u201cThey're doing a great job with their ecosystem and they continue to strengthen their\u00a0 product lineup, whether it be the home hubs and the watches and so forth through Fitbit. That's going to continue to be adopted by more and more users and that makes it online advertising services that much more attractive to advertisers and publishers.\u201d \u201cI like what's happening with YouTube and clearly what's happening with Google's cloud momentum business. That\u2019s going to continue to help the top and bottom lines for Alphabet,\u201d he said. Alphabet\u2019s latest quarter showed how strong the company\u2019s growth has been. Revenue for the Q2 was a mammoth $61.880 billion, which was 62 per cent higher than a year earlier, while net income was even better at $18.525 billion or $27.26 per share compared to $6.959 billion or $10.13 per share a year ago. (All figures in US dollars.) \u201c, we saw a rising tide of online consumer and business activity. We\u2019re proud that our services helped so many businesses and partners. In fact, we set a number of records this quarter,\u201d said Alphabet and Google CEO Sundar Pichai, in the company\u2019s second quarter conference call on July 27. \u201cThis quarter, publisher partners earned more than they ever have from our network. We also paid more to YouTube creators and partners than in any quarter in our history. And on top of that, over the past year, we have sent more traffic to third party websites than any year prior, in addition to generating billions of direct connections - like phone calls, directions, ordering food and making reservations \u2013 that drove customers and revenue to businesses around the world that are working to get back on their feet,\u201d Pichai said. Pichai touted the company\u2019s investments in artificial intelligence which have added capabilities to its Search offerings, advancements in the Android operating system on privacy and safety for the Android 12 this fall and the company\u2019s devices category through Pixel, which includes Nest and Fitbit.\u00a0 But beyond those businesses, Alphabet\u2019s Cloud revenue grew by 54 per cent over the second quarter, while YouTube continues to spread its dominance internationally and YouTube Shorts is being pegged as a rival to TikTok.\u00a0 Wong said with the company buying back shares at an impressive rate, the stock remains within the Buy category on a fundamentals basis.\u00a0 \u201cEarlier this year management authorized a $50 billion share buyback \u2014 that\u2019s almost double that of last year's $28 billion share buyback, so that's certainly a shareholder-friendly move,\u201d Wong said. \u201cLong term, we know that there's a continued growth of online usage, and therefore digital ad spending. Android is doing well. They're dominating the market share in smartphones. Alphabet shares are trading at a reasonable valuation at 29x forward earnings with a 20 per cent growth rate,\u201d he said. \u201cI continue to like that name. I like leadership names, whereby there's not a lot of viable competitors,\u201d Wong said. On YouTube\u2019s success, Senior Vice President Philipp Schindler said the business had a great quarter with key trends in helping advertisers reach audiences. \u201cYouTube is uniquely positioned to drive both massive reach and action. We\u2019re seeing more advertisers adopt a full funnel approach to scale their businesses with increased efficiency,\u201d said Schindler in the second quarter conference call.\u00a0 \u201cCompara, a financial services market leader in Chile, combined a reach and direct response campaign to capitalize on leads. Over 10 weeks, they reached five million users with incremental conversions up 70%. This trend is widely embraced by our largest advertisers where businesses are breaking down silos between online and offline,\u201d he said.