After falling 39% in 2022, shares of (NASDAQ: GOOGL) (NASDAQ: GOOG) have been on a tear this year, up 46% (as of July 26). That performance leads the 35% gain of Nasdaq Composite index by a sizable margin. 

The tech giant's recently reported second-quarter financials definitely helped propel the stock price even higher. In fact, revenue growth for Alphabet is showing signs of accelerating, something shareholders are getting excited about after a notable slowdown last year. However, the stock is still 14% off its all-time high price. 

Is now the time for investors to buy this FAANG stock? Let's take a closer look at Alphabet. 

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Source Fool.com