Traders expressed more skepticism over Amazon's jump. The stock ended around $297 per share on Wednesday, and a price around $300 per share "reflects optimism" that Amazon will eventually rein in its spending, said trader Karen Finerman.
"I don't know if [Amazon CEO] Jeff Bezos cares where his stock trades," Finerman said.
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Karen Finerman is long BABA, BAC, C, CVS, FINL, FL, FRO, GOOG, GOOGL, KORS, M and MTW. She is short DIA. Her firm is long AAPL, ANTM, BAC, PLCE, C, CMLS, CVS, DIS, DRI, FINL, FL, GOOG, GOOGL, GPS, HTZ, IBB, JPM, KORS, M, MTW, SUNE, URI, WFM and XBI. Her firm is long calls SUNE and C spreads. Her firm is short USO, DIA and IWM. Karen Finerman is on the board of GrafTech International.
Brian Kelly is long BTC=, Gold, US Dollar, HYG puts and TWTR call spreads. He is short EWA, EWG, EWQ, EWZ, EWH, EWW, HGH5, Yen, Australian dollar, British pound and Canadian dollar.
Pete Najarian is long AAPL, BABA, BAC, CSX, DB, EBAY, INTC, JPM, KKR, KO, LLY, LOCO, MRK and ODP. He is long calls AA, AAL, ABX, APD, ARCP, BABA, BIC, BBRY, CY, DAL, DD, DNKN, EBAY, EWG, GS, GT, HCBK, IAG, ISIL, JPM, MAS, MCD, MS, PEP, RF, SPY, UAL, VGK, WU and XLF. Today, he bought EWG calls and VGK calls.
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.