24/7 Wall St.

Amazon.com Inc. (NASDAQ: AMZN) saw its shares hit an all-time high and critical milestone to kick off this shortened trading week. The stock reached above the $1,000 mark for the first time in its trading history. 24/7 Wall St. has taken a closer look at what this means for the stock and where it could go from here.

There are only a handful of companies that trade above the $1,000 price level, notably Warren Buffett’s Berkshire Hathaway and online travel provider Priceline. However, Amazon is the largest company by market cap that trades at this level, with a stunning $477 billion total market cap. Although, Alphabet, parent of Google, is closing in on the $1,000 price level as well with a market cap of $680 billion.

Looking ahead to the 2017 and 2018, Thomson Reuters expects to see Amazon revenues of $166.12 billion and $200.68 billion, respectively. In terms of earnings per share (EPS), analysts are calling for $6.66 in 2017 and $11.30 in 2018.

At the $1,000 mark, the e-commerce giant trades with a price to earnings ratio of 150 against 2017 projected earnings. When compared with 2018 earnings, the stock trades up 88.5 times. Although the broad markets trade closer to a 16 times their earnings, Amazon’s growth story has merited this earnings premium, considering the stock was trading around $50 back in 2008.

Amazon originally entered the market May 15, 1997. Since then the stock has only split three times. It split two for one in June 1998, three for one in January 1999 and again two for one in September 1999.

Even excluding Tuesday’s move, Amazon has beaten the broader markets, with the stock up about 33% year to date. The stock is up closer to 40% over the past 52 weeks.

Shares of Amazon hit a new 52-week high of $1,001.20 early Tuesday morning and were last seen at $998.75, with a consensus analyst price target of $1,095.97 and a 52-week low of $682.12.