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Alphabet's Second Quarter Earnings Blowout Is Great for FANG Stocks

Alphabet blew away Wall Street profit forecasts for the second quarter. Here's why that's good news for FANG stocks.
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FANG stock investors -- who were letdown by Netflix's (NFLX) - Get Netflix Inc. Report mixed performance -- could breathe a little easier after Alphabet's (GOOGL) - Get Alphabet Inc. Report second quarter earnings blowout on Monday

A combination of slower traffic acquisition cost growth and solid revenue gains powered Alphabet to a $2.11 a share earnings beat. The beat comes despite heavy investments in Waymo and YouTube, making it that much more impressive. 

This is why Jim Cramer is bullish on Alphabet in the Action Alerts PLUS member club

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