Amazon shares hit $1000
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Amazon (NASDAQ: Amazon.com [AMZN]) has beaten Google parent Alphabet (NASDAQ: Alphabet Class A [GOOGL]) in the race to lift its share price to $1000.

The e-commerce firm yesterday became only the second company currently trading above the four-digit milestone on the S&P500.

Amazon's stock has risen by 33 percent this year alone, increasing the firm's market cap by almost $120 billion and making its founder Jeff Bezos the second richest man in the world with an estimated fortune of more than $75 billion.

Amazon shares closing in on $1000
Amazon shares closing in on $1000

And that meteoric rise is expected to continue with analysts predicting Amazon shares will reach $1,100.

The company has led an enormous rally that has also seen Apple (NASDAQ: Apple [AAPL]) and Facebook (NASDAQ: Facebook [FB]) shares rise almost 33 percent this year. In the same period Alphabet has put on 26 percent and Microsoft has gained 13 percent.

The five companies' combined market cap is almost $3 trillion, which is more than 13 percent of the S&P 500.

Amazon founder Jeff Bezos closing in on Bill Gates as world's richest man
Amazon founder Jeff Bezos closing in on Bill Gates as world's richest man

Amazon's rise has been extraordinary but it still has some distance to go if it wants to catch outright leader Priceline (NASDAQ: The Priceline Group [PCLN]), which recently saw its share price hit $1,850.50.

But Amazon still enjoys the upper hand on the booking.com owner when it comes to market cap with Amazon's coming in at $476 billion compared to Priceline's $91 billion.

Wal-Mart takes fight to Amazon with discounts for online orders
Wal-Mart takes fight to Amazon with discounts for online orders

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