Has Alphabet's Stock Run Too Far Ahead Of Earnings?

Alphabet Inc GOOG is set to report its second-quarter financial results after the market closes Tuesday.

There is no doubt the fundamentals are going to be strong, Hightower Advisors' Stephanie Link said Tuesday on CNBC.

Although expectations are high, Link said digital advertising and travel search are recovering, cloud continues to do well and retail e-commerce is in "secular growth mode." Retail e-commerce is going to continue to be strong for the foreseeable future, she added.

Related Link: Understanding Alphabet's Unusual Options Activity

The only thing investors should be concerned about is whether or not the stock has run too far ahead of earnings, she said.

Link is overweight the stock and is "a bit nervous" heading into the report, with the stock up about 55% on the year.

Price Action: Alphabet made a new 52-week high this morning before pulling back. It is up 54.97% year-to-date.

At last check Tuesday, the stock was down 2.79% at $2,714.88.