Jim Cramer says Alphabet (GOOG) , (GOOGL) "is not done going up," adding that the company has so many up-and-coming businesses beyond its core Google search engine that it would be "crazy" for Cramer's charitable trust not to own it.

"Sure, near-term revenue and earnings will be driven by online-ad sales, but the company is more diversified than that," Cramer said during an exclusive conference call with members of his Action Alerts PLUS Club for investors. "We see so many other paths to grow that we would be crazy not to include this as a core holding."

Waymo self-driving cars are just one of many businesses Alphabet owns beyond the Google search engine.
Waymo self-driving cars are just one of many businesses Alphabet owns beyond the Google search engine.

While Alphabet is best known as Google's parent company, Cramer said the firm has plenty of other cutting-edge businesses, including:

  • Cloud Computing. Cramer said Alphabet and Microsoft (MSFT) -- which his trust also owns -- represent "the two companies most likely to either dethrone [Amazon (AMZN) ] as the cloud leader or the very least most likely split the lion's share of the public cloud market with [Amazon]."
  • Self-Driving Cars. The stockpicker said Alphabet's Waymo self-driving car business is "leaps and bounds ahead of everyone else in the autonomous-vehicle market."
  • Artificial Intelligence. "There is no doubt -- and you can ask anyone other than perhaps the people in Nvidia (NVDA) -- that Google/Alphabet is way ahead on artificial intelligence," Cramer said. He added that AI's potential "is so vast that it's likely to penetrate in some way, shape or form every industry on the planet."

"It's for these reasons -- other than online-ad dominance, which we think is going to be far less important down the road -- that we continue to like Google," he said. "And for the most part, [we] view pullbacks as buying opportunities. ... [Alphabet] is not done going up."

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