Apple, Google and Amazon stock are rising and people are wondering why

Tesla, Apple, Google, Coinbase and Amazon Stock jump overnight as the crypto market recovers. But is it time to celebrate just yet?

by | Published on 3rd Feb 2023

A bit of a head-scratching moment in the stock market as Apple stock, Google stock and Amazon stock all jumped overnight.

Meta (Facebook), Tesla and Coinbase are also on the rise.

And investors aren’t entirely sure why.

READ MORE: The world’s richest people have lost more than $1.4 trillion since the start of 2022

On the face of it, not much has changed.

The stock market famously doesn’t like it when the Federal Reserve adjusts rates and Jerome Powell, the man at the wheel, has hinted more rate hikes may come.


Even Meta shares rocketed 23 percent despite missing earnings expectations.

Zuckerberg’s company was projecting $2.26 EPS (Earnings Per Share) but actually only hit $1.76 EPS.

That’s the same as a car hitting 250 km/h when the manufacturer said it could do 300.

Mind you, the proof may be in the pudding here.

First and foremost, tech stocks and crypto tend to go hand in hand and the crypto market has been recovering big time over the last two weeks.

In addition to that, Coinbase shares went up after a federal judge dismissed a class-action lawsuit against the crypto exchange.

For the record, Coinbase is the only prominent crypto exchange that’s also a public company.

Secondly, the stock market mantra is ‘buy the rumor, sell the news’ and rumor has it the Fed might actually ease up on interest rate hikes despite what its chairman has said.

Moreoever, the aforementioned companies made moves and announcements that investors apparently deemed promising.

Tesla, for example, drastically slashed new car prices just a few days ago.

Buyers may end up saving a whopping $13,000 on a brand new Tesla Model Y once you factor in new pricing and new Federal tax cuts on EVs.

As for the crypto market, the FTX fiasco has been priced in by the market and ‘digested’ by investors.

Crypto ‘bros’ feel like the chips may have already fallen and even though there was significant damage, there’s a widespread feeling that the worst may be behind us.



You might be interested in

Experienced content creator with a strong focus on cars and watches. Alessandro penned the first-ever post on the Supercar Blondie website and covers cars, watches, yachts, real estate and crypto. Former DriveTribe writer, fixed gear bike owner, obsessed with ducks for some reason.

Trending This Week

Related Articles