What happened Amazon.com (NASDAQ: AMZN) stock has surged 35% this year, according to data from S&P Global Market Intelligence, as the e-commerce giant has ridden a broader wave in tech stocks and continued to put up strong growth numbers. Image source: Amazon.com. The stock has climbed steadily over the course of the year, topping $1,000 for the first time ever. AMZN data by YCharts So what There was no singular news item driving Amazon shares higher, but the company continues to execute, growing sales and market share across a wide range of industries. Investors keep pushing the stock higher, as Amazon has built up a network of competitive advantages that is virtually unparalleled in the modern world. In its fourth-quarter report out in February, the company posted sales growth of 22% to $43.7 million and earnings per share of $1.54, up from $1 the year before. Sales in the key cloud-computing division, Amazon Web Services, jumped 55% to $12.2 billion. Shares fell modestly on the report, as revenue and guidance were below estimates, but the stock recovered those losses soon after. A bullish tailwind in tech stocks has pushed the Nasdaq up more than 17%, with fellow tech giants Alphabet, Apple, Facebook, and Netflix, or the so-called FAANG group of stocks, all gaining more than 20%. In April, Amazon posted strong first-quarter results, with revenue up 23% to $35.7 billion, and earnings per share increasing from $1.07 to $1.48. Both numbers beat analyst estimates, and the stock rose on the report. The stock topped $1,000 for the first time in May, and Amazon then stunned the business world in June with its $13.7 billion acquisition of Whole Foods Market (NASDAQ: WFM). That move, by far the company's biggest acquisition in its history, pushed the stock a nearly 3%, indicating a ringing endorsement from its investors. Now what Amazon has long aspired to be the "Everything Store," and the Whole Foods acquisition brings the company significantly closer to that goal. For years, it's angled to break into groceries, but it has struggled to do so without a brick-and-mortar presence. The stock's valuation remains stretched at a P/E ratio of 190, but the market has long given Amazon a pass on traditional valuation metrics as long as it continues to put up strong top-line growth. While the stock is still vulnerable to a sell-off, its competitive position continues to grow stronger, meaning it should continue to outperform the market.10 stocks we like better than AmazonWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Amazon wasn't one of them! That's right -- they think these 10 stocks are even better buys. Click here to learn about these picks! *Stock Advisor returns as of July 6, 2017John Mackey, CEO of Whole Foods Market, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Jeremy Bowman owns shares of Apple and Netflix. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, Netflix, and Whole Foods Market. The Motley Fool has a disclosure policy.