Wall Street is buzzing over Amazon's impressive September quarter results.
Analysts say they are growing more confident Amazon's success will continue because of its proven ability to invest in new opportunities.
The e-commerce juggernaut generated third-quarter earnings per share of 52 cents, handily beating the 3 cent Thomson Reuters consensus estimate.
Its shares hit a new all-time high Friday and closed up 13 percent after reporting the results after the closing bell Thursday. Around midday they rose above $1100 for the first time ever.
"Amazon reported better-than-expected revenue and operating income, driven by strong Prime Day signups," wrote Credit Suisse analyst Stephen Ju in a note to clients on Friday. "And once again it demonstrated accelerating growth across all e-commerce reporting segments."
The analyst said the strong growth was the result of the company's massive investment spending. Amazon had $5.7 billion in capital expenditures during the third quarter, $300 million more than he expected.