While some Internet companies are fretting over the arrival of new EU regulations (GDPR) that require users to opt into any data collection, Alphabet/Google (GOOGL) probably isn't one of them.

Google, Facebook (FB) and other Internet giants delivering personalized services that legions of consumers deem indispensable should have an easier time of getting user consent for data-collection that many smaller firms. Moreover, Google's bread-and-butter search ad business relies heavily on the search keywords that a user inputs to deliver targeted ads, rather than data Google previously collected.

Strong mobile search ad growth is a big reason why Google has continued growing at a 20%-plus clip. The company's investments in things like creating quality mobile ad formats, using AI to improve the quality of search results and catering to the advertising needs of online retailers and local businesses have paid off splendidly, and should continue to do so in the coming years.

Amazon.com's (AMZN) tremendous growth does pose some risk to Google's search ad sales, as does the substitution of traditional search activity with voice assistant queries. However, even those threats appear a little overblown when one looks at how diverse Google's search revenue streams are. There are plenty of reasons to think those revenue streams will collectively keep growing at a double-digit clip, even if growth slows a bit from current levels.

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