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Higher risks with stock at a higher price, do you agree?
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Share price = Risks?

In an over simplistic way, yes I would agree share prices is propotional to risks, where higher share prices is likely correlating with higher risks.
However, that is only a single dimension perspective. In investing, there might be other reasons to consider. For example, the price may just break out from a range with a good uptrend structure. In that case, I might still take a long position and control my risks by placing stop loss at a reasonable price.
Do note if the price broke out of range, that level often is also the resistance line. Which means, it is highly likely the price might make an U turn and retrace. I would observe how the price moves before deciding on a good entry point. So do manage risks accordingly.
Lastly, how high is high? Is $4000 reasonable for $Amazon (AMZN.US)$ ? I guess it depends on fundamental valuation and forward earning potential.
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