Alphabet's (GOOGL) - Get Report earnings could be pretty sterling. 

TheStreet's founder and Action Alerts PLUS portfolio manager Jim Cramer thinks Alphabet's Waymo division is worth "probably 50% of the company."

Cramer also said Alphabet has Ruth Porat, the best CFO in America.

Alphabet's stock is trading up 25.25% year-to-date to $972.92 as of Friday. Shares of the company briefly traded above the $1,000 mark in June but were hurt by the tech selloff in late June and early July as investors worried the big tech names had risen too much in 2017. The stock has been on an upward slope since July 6.

Alphabet is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells GOOGL? Learn more now.

Investors will be paying close attention to Google's paid clicks, which rose an impressive 44% year-over-year for the previous quarter as it rides the strong mobile search trend, as well as YouTube's growth. The increase topped expectations for 30% growth from the year-ago period and showed significant growth from the 36% growth in the previous quarter. In addition, paid clicks on Google properties rose 53%, vs. expectations for 33% growth.

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