Editor’s note: This column is part of our Best Stocks for 2018 contest. The readers’ choice pick for the contest is Amazon (NASDAQ:AMZN).

Even as U.S. federal leadership continues to give Amazon (NASDAQ:AMZN) headline headaches, AMZN stock keeps on heading skyward — up over 40% so far in 2018.

The latest troubles for Amazon were courtesy of the Supreme Court, which ruled on June 21 that states can collect sales tax on internet purchases even if the company does not have a physical presence in the state. Investors seem to be worried about the future of AMZN’s growth story as these new rules take effect.

But as Luke Lango pointed out here on InvestorPlace, the worries may be overdone. “But with respect to Amazon stock, the Supreme Court ruling on sales tax is much ado about nothing. Amazon already collects state sales taxes on first-party sales in essentially every state, so the ruling only affects third-party sales,” according to Lango.

And don’t forget, plenty of the growth expected for Amazon comes from other aspects of the business. By now it’s possible some people are tired of hearing about Amazon Web Services and its mammoth growth, but I imagine none of those people are invested in AMZN stock. Revenue growth for AWS flirted with 50% in the first quarter. AWS isn’t worried about state taxes on internet sales. It’s doing its own thing, and doing so splendidly.

Amazon is the readers’ choice pick for the Best Stocks contest, and given everything, it’s not hard to see why. Analysts remain positive on the stock, with 43 of 47 of them rating it a buy and the average price target north of $1,800.

Also, Prime Day is coming up on July 16-17, and last year, the event spurred AMZN stock on to new heights. As Vince Martin pointed out, don’t expect a jump like that every year, but it is a vital piece of information for investors to keep an eye on. We’ll know more about the effects of that and its purchase of Pillpack at the end of the next quarter.

It’s starting to feel like nothing can keep AMZN stock down, even as the S&P 500 falls back down to around breakeven on the year. And while it may be trailing considerably in the Best Stocks for 2018 contest as the midway point approaches, there are plenty of catalysts. If Amazon can keep delivering, then AMZN stock can keep climbing.

Jessica Loder is an assistant editor at InvestorPlace.com. As of this writing, she did not hold a position in any of the aforementioned securities.

Legendary Investor Louis Navellier’s #1 Stock to Buy NOW

Louis Navellier — the investor the New York Times called an “icon” — just helped investors make 487% in the booming Chinese stock market … 408% in the medical device sector … 150% in Netflix … all in less than 2 years!

Now, Louis is urging investors to get in on what may be the opportunity of a lifetime. By using a unique investment strategy called “The Master Key,” you could make hundreds of percent returns over the next few years. Click here to learn about the #1 stock recommendation from one of America’s top investors.