Investing.com -- Wedbush analyst Ygal Arounian added both Alphabet and Reddit to the firm's Best Ideas List on Thursday, citing cloud share gains and advertising momentum as the respective investment theses for each name. On Alphabet, Arounian told investors in a note that second-quarter results reinforced Wedbush's view that the company's "full-stack AI position is translating into real Cloud share gains, even as near-term profitability is limited by rising AI-related spend." Google Cloud revenue grew 82% year-over-year to $24.8 billion, well ahead of expectations and accelerating from 63% growth in the first quarter. Cloud operating margin expanded to 35.6% from 20.7% a year ago, while Cloud backlog grew to $514 billion. Related articlesAlphabet, Reddit added to Wedbush's Best Ideas ListRollins shares plunge premarket after Q2 miss triggers downgradesBoeing beats Airbus with 173 plane orders at Farnborough Airshow