Amazon could reach $1,000 in 2018, expert predicts

Amazon (NASDAQ: AMZN) 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.

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