Amazon and Apple Surge on Strong Earnings

Home » Amazon and Apple Surge on Strong Earnings

Amazon and Apple Surge on Strong Earnings

Earnings season is in full swing and we’ve seen some excellent reports from some of our favorite stocks that have sent shares jumping higher.

Amazon (AMZN) beat expectations and shares jumped 6% in one day. Amazon is trading just below the recent 52-week high and in position to breakout into a new high. Here is a 5-year chart on Amazon. Shares have surged during the pandemic because online sales are booming.
All charts from tradingview.com

Apple, Inc. (AAPL) also crushed expectations and announced a 4-for-1 stock split. Shares were up 15% in two days on the good news. Apple has also surged from the recent COVID-19 lows, trading deep into a new all-time high.
Take a look below.

Match Group, Inc. (MTCH), the worlds largest online dating company, beat expectations and shares jumped 13% in one day. Match is now trading into a new all-time high as well.

Square, Inc. (SQ), a global leader in mobile payment systems, jumped 8% after reporting another strong quarter. Once again, this is a stock that has jumped into a new all-time high. Take a look below.

The strong earnings reports have given the S&P 500 and NASDAQ 100 a boost on the chart.

The S&P 500 continues to steadily rise, with the leading index now trading just shy of the 52-week high from mid February just before stock crashed on COVID-19.

The tech heavy NASDAQ 100 is now trading well into a new all-time high, fueled by strong earnings from companies such as Amazon and Apple, which have both thrived during the quarantine while many other industries and companies were crushed.

What Should We Expect Moving Forward?

The broader U.S. economy has struggled with the quarantine. Many industries and companies have been devastated and that is incredibly sad.

However, a lot of these global tech leaders have actually thrived as consumers spend more online and stream even more content.

Looking forward I am optimistic on U.S. stocks.

As always there will be challenges – such as lingering uncertainty around COVID-19 and the upcoming U.S. presidential election.

Despite those challenges I am expecting a strong second half of the year.

Stocks have a lot of upward momentum right now, more jobs are coming back every month and consumer and business spending continues to rebound.

I view weakness in U.S. stocks as a chance to buy low.

I’ll be back with another update next week, have a great day!

Disclaimer: This report is for entertainment purposes only. Every investor should consult with an investment advisor before making investment decisions. The Vodicka Group, Inc. is not a broker/dealer. We do not receive compensation for mentioning stocks. At various times, the clients, publishers and employees of Vodicka Group, Inc., may buy or sell the securities discussed for purposes of investment or trading.

Share this post:
F T L

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top