Why did Amazon move up so much after earnings? The answer is simple: Expectations were so low with Amazon that when they beat estimates, there was bound to be a combination of late arrivals to the party and short covering. Often with earnings it's not a matter of how much a company makes, but how well they do compared to estimates and expectations. Apple's Doomed? More Than One Person Thinks So >> There are other reasons to like Apple compared to Amazon like cash per share, growth rates and barriers to entry, but in the end what we really want as investors is to make a return over and above the Treasury bond rate in return for the risk of loss we take. If you want to be in technology, it's hard to make an argument in favor of buying Amazon with its dotcom bubble stock price. Do yourself a favor and don't get caught holding shares in Amazon if the bubble pops.