The Financial Post reports in its Thursday, Nov. 7, edition that Amazon shares reached an intraday record on Wednesday, reflecting continuing investor interest in Big Tech. A Bloomberg dispatch to the Post reports the company's stock rose 1 per cent to $201.45 (U.S.), surpassing its previous peak from July. Since an August low, shares have climbed 25 per cent and are up 32 per cent this year, outperforming the Nasdaq 100 index's 23-per-cent gain. The recent surge followed strong quarterly results, particularly from Amazon Web services, which benefits from long-term artificial intelligence trends, along with a positive holiday forecast. Overall, all of Amazon's key segments appear to be performing well. FBB Capital Partners director Mike Bailey says: "Amazon is firing on all cylinders. People might have had some skepticism about its cloud, e-commerce, or advertising businesses, but all three seem to be working and that's creating a lot of value." Improvements in profitability have eased concerns about the company's valuation. Amazon trades at 29 times estimated earnings. While this is above the multiple of the Nasdaq 100 index, it is a far cry from its 10-year average above 53.