Google's [part of Alphabet (GOOGL -0.09%) (GOOG -0.02%)] core businesses continue to perform very well. In this video clip from "The Rank" on Motley Fool Live, recorded on July 13, contributors Matt Frankel and John Bromels discuss one area of the company that could push its growth to an even more impressive level. 

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Matt Frankel: [laughs] I think of Google as the perfect example of a near-monopoly on a major business and then a bunch of things that could be home runs. You think like Waymo, things like that, that could be home runs, but then you have the Google business and I can't name a business of that scale that is a near-monopoly in what it does. That's why I like it.

John Bromels: I would've said Microsoft's (MSFT -0.32%) Office Suite, except that Google came along with Google Docs and Google Sheets, and Google Drive. I would say now I wouldn't call it that.

Frankel: Just in terms of internet search, in terms of advertising, no one has got better advertising data available than Google does. It's just a near-monopoly. They call that segment their other bets, I think I still refer to it as.

Bromels: Yes.

Frankel: If any one of those really takes off, if Waymo dominates the driverless car industry, for example, it could double its market cap potentially. Maybe not double, but you know what I mean? It could be a big needle mover.

Bromels: Definitely.

Frankel: On top of that, rock solid monopoly advertising business that they have. That's why I rank that No. 2 out of the 5.