amazons shares topped 1000 for the first time marking a new milestone for a company wooing investors by dominating online commerce and cloud computing amazon shares hit 10012 in new york on tuesday up about 40 from a year ago and more than double the 15 gain of the sp 500 index in the same period investors are thinking about how much further amazon can grow as it tries to replicate its us success abroad the shares will likely push even higher since amazon is growing so quickly in massive global industries that show no signs of slowing as shopping habits change and businesses rethink how they deploy technology said john blackledge analyst at cowen and company who recently upped his amazon price target to 1125 a share theres a long runway there he said the markets amazon is playing in with global retail and cloud computing are just massive things continue to go well and investors are looking for more upside the companys 478billion market value is double that of walmart even though the worlds biggest retailer will have sales three times larger than amazons this year investors put more value in amazons web traffic and delivery network than they do in walmarts vast store presence because online spending will grow more than four times faster than overall retail spending this year as shoppers continue to shift from stores to websites according to emarketer the worlds largest online retailer is dominating ecommerce with its 99ayear amazon prime subscription which includes delivery discounts music and video streaming and photo storage that keep shoppers engaged with the site another amazon advantage is its profitable and fastgrowing cloudcomputing division amazon web services which maintains a global network of data centres and rents out storage space and computing functions to clients in a variety of industries including netflix and airbnb amazons rise has made its founding ceo jeff bezos the worlds second wealthiest person behind only microsoft cofounder bill gates according to the bloomberg billionaires index bloomberg