Amazon (NASDAQ: AMZN) has reported a 43 percent increase in revenues for the first quarter of 2018.

The retail giant surpassed analyst expectations and the group’s profits more than doubled to $1.6 billion and sending shares to a new high of $1,625.

Stephen Ju, an analyst from Credit Suisse, believes that shares could soon hit $1,800.

“Amazon is one of the best positioned to capture the next wave of retail dollars coming online,” he said.

“Apparel and groceries remain large pools of dollars still left to come online, and Prime Wardrobe and the linkup between Whole Foods Market content and Prime Now distribution will serve as the spearheads to address those opportunities.”

The impressive results come following Donald Trump’s criticisms of the group, who he said do not pay enough tax.

“I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!” said Trump on Twitter.

Michael Pachter, an analyst at Wedbush Securities, said: “The best revenge that Bezos can get against the administration for its veiled threats about sales taxes and not paying its fair share.”

Amazon also announced during the earnings call that the cost of a Prime subscription will increase from $99 to $119 per year for US customers.

The increase in costs will result in shipping perks and video streaming for customers.

The online giant is currently the second biggest company worldwide, after Apple (NASDAQ: AAPL). It has a market value of $723 billion and many analysts are predicting it to overtake Apple and become the first trillion dollar company.