Your speculation doesn't appear unfounded to me, but I think you're painting the picture with too broad of a brush here. AMZN, TSLA, and AAPL (just to limit the discussion to the ones you explicitly mentioned) are tech stocks, but have fundamentally different business dynamics that I would expect to be affected quite differently by the effects of COVID.
* AMZN: huge swaths of new and existing are customers moving their shopping online. They stand to profit from this in the short and medium term at least, and I would wager that the change in shopping habits would result in a noticeable number of long term changes sticking.
* TSLA: a lot to unwind here, but it's a combination of their recent delivery numbers and large amounts of retail investor speculation. While I believe the stock was undervalued before, quarterly delivery numbers wouldn't fully explain such large jumps.
* AAPL: I'm at a loss on this one, but I also don't know a lot about it. With many folks not able to spend their discretionary income on bars/restaurants/travel/etc. I can see more of this money being channeled to iPhones.
>AMZN: huge swaths of new and existing are customers moving their shopping online. They stand to profit from this in the short and medium term at least, and I would wager that the change in shopping habits would result in a noticeable number of long term changes sticking.
Don't forget about AWS. With a lot of people being stuck inside due to covid lockdowns, people watch more Netflix and use more online services in general. With AWS powering a gigantic chunk of the modern web, it is no surprise that they are doing so well right now.
AAPL - I expect decent macbook sales this quarter due to the fact that many roles now need to go fully online that previously didn't have their own machines to take home. Yes, businesses could go with cheap PC laptops, but a lot of businesses standardize on manufacturers and probably went with what they standardize on for those employees that need to suddenly work from home.
* AMZN: huge swaths of new and existing are customers moving their shopping online. They stand to profit from this in the short and medium term at least, and I would wager that the change in shopping habits would result in a noticeable number of long term changes sticking.
* TSLA: a lot to unwind here, but it's a combination of their recent delivery numbers and large amounts of retail investor speculation. While I believe the stock was undervalued before, quarterly delivery numbers wouldn't fully explain such large jumps.
* AAPL: I'm at a loss on this one, but I also don't know a lot about it. With many folks not able to spend their discretionary income on bars/restaurants/travel/etc. I can see more of this money being channeled to iPhones.