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Amazon is a must-own stock for long-term investors, expert Robert Luna said Friday. In fact, he's predicting it will probably reach $1,000 a share in 2018.
The e-commerce giany hit a new high Friday, closing at $805.75 a share. In May, Luna had predicted Amazon would hit $800 by the end of the year.
"It's not a new story but they're still growing revenues by 30 percent. They're growing active users by 20 percent," the CEO and chief investment officer of SureVest Wealth Management told CNBC's "Closing Bell. "
"Eventually all retail in one way or another is going to be flowing through Amazon. This is a company that's reinvented the marketplace."
That said, Luna isn't necessarily biting right now thanks to Amazon's big runup. However, anytime there is a pullback, he'd be an aggressive buyer.
While some investors believe Amazon is overvalued and will be growing at a slower rate going forward, Luna said there is a lot of room for growth — especially in international markets. For example, Prime's international growth rates are "skyrocketing," he noted.
On top of that, Amazon is also in the cloud marketplace.
"There's still a long way to go. A lot of market share," said Luna.
Disclosures: Luna and his clients own Amazon.
— CNBC's Stephen Desaulniers contributed to this report.