Amazon breaches $3,000 to hit a fresh record — and experts say the bull run will continue into the post-pandemic economy

Amazon stock gained as much as 4.8% on Monday and breached $3,000 per share for the first time ever.

The e-commerce giant has largely benefited from the sudden shift to stay-at-home activity and surging interest in online shopping.

Despite the stock notching record highs throughout recent weeks, "it's not very expensive" considering Amazon's rapid sales growth, Nancy Tengler, chief investment officer at Laffer Tengler Investments, told CNBC on Thursday.

Amazon shares will likely see a slew of price-target upgrades in the near future and could leap as high as $3,500 over the next 12 months, Craig Johnson, senior technical research analyst at Piper Sandler, said.

Amazon leaped as much as 4.8% on Tuesday, breaking through $3,000 per share to record highs.

The e-commerce giant is one of the biggest winners of the stay-at-home economy as Americans turn to online shopping as a replacement for boarded-up retailers. Amazon shares are up roughly 64% year-to-date and have nearly doubled from their mid-March lows. While some fear the stock is too lofty for the bleak economic backdrop, others say it has room to run.

"The company is benefiting from super-fast sales growth, up 26% year-over-year, and that's been able to support the price at these levels, according to our valuation work," Nancy Tengler, chief investment officer at Laffer Tengler Investments, told CNBC's "Trading Nation" on Thursday. "So while it's not cheap, it's not very expensive."