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NEW YORK (CNNMoney)
The online retailer's stock topped $300 for the first-time Thursday, ending the day just below that level at $299.66 a share.
Amazon.com (AMZN, Fortune 500) is up 20% in 2013, continuing a buoyant five-year run in which its stock's value has more than tripled.
Investors welcomed a U.S. district court ruling on Wednesday that Apple (AAPL, Fortune 500) had colluded with multiple publishers to raise prices on e-books.
Related: This ex-Amazon engineer wants to outsmart Jeff Bezos
Apple is appealing the ruling, but many industry watchers expect that the iPad maker will be forced to pay high damages and to have trouble making future deals with publishers.
With its Kindle e-reader and a large selection of books available for sale on its site, Amazon could become the winner in the fierce fight over the future of book buying.
The company is not only competing with Apple, but it is battling Netflix (NFLX) and Hulu for control of the streaming television and movie world by buying films and shows for its library.
Related: Apple found to have conspired to raise e-book prices
Despite its surging stock price, things at Amazon haven't been especially rosy lately. During the first three months of the year, Amazon's profits have dropped by 37%.
Amazon has articulated plans of giving up short-term profits and investing in long-term growth. It has been building new warehouses and pouring money into research and development for future product lines.
Wall Street is buying Jeff Bezos's strategy and giving Amazon a temporary pass on profits, for now. 
First Published: July 11, 2013: 4:57 PM ET
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