Late last week, we saw many FAANG stocks report their second-quarter results. These are some of the most consequential companies in determining where the broad market will head over the next three to five years.

While stalwarts like Amazon and Apple pleased investors with their earnings, I was most interested in how Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) -- Google's parent company -- is performing with its advertising business in the middle of a slowing economy. And boy, did the company deliver.

Here's why its second-quarter earnings show once again why Alphabet is the best FAANG stock to own right now. 

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Source Fool.com