Amazon shares jumped after hours Thursday, after the company trounced earnings expectations for the second quarter. The e-commerce giant posted profit of $5.07 a shareーmore than double estimates and compared to just $0.40 a year ago. Driving that growth was the company's cloud business, Amazon Web Services, which saw revenue surge almost 50 percent to more than $6.1 billion. But while Amazon remains the clear leader in the space, Forrester Research retail analyst Sucharita Kodali pointed out that the company can't rest on its laurels. "The question is, does cloud just get commoditized and does that ultimately bring prices down and compress margins," she said. "Companies like Microsoft and others are not going to simply stand by and let Amazon just completely dominate the market. You will see innovation in the space, you will likely see very, very competitive offers." Still, Kodali said she expects Amazon to ultimately beat Apple in the race to $1 trillion. She said one of the things the company has going for it, is its ability to beat expectations in almost any business it decides to enter. "They now have a physical fulfillment business that competes with FedEx and UPS," she said. "They have a media business that competes with everyone from Netflix to HBO and Disney. Then, of course, they have their marketing business that competes with Google, and the AWS business that's competitive with so many of the large technology giants that are out there." Shares of Amazon were up almost 4 percent after the earnings report. The company closed the day with a market cap of $904 billion, just behind Apple which was worth $958 billion. For more on this video, [click here](

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