"The move higher in Tesla shares bore no relation whatsoever to the company's financial performance in the quarter," JPMorgan wrote.

Apple stock was up in premarket trading after the iPhone maker posted first-quarter earnings results that beat expectations.

Tesla said it sold 1.79 million vehicles in 2024, the first drop in more than a dozen years despite offers of 0% financing, free charging and low-priced leases

Apple reported $18.5 billion in sales in greater China last quarter, comfortably below consensus estimates of $20.9 billion.

Apple stock lifted following guidance for the current quarter after the company reported a drop in ​iPhone and China sales. Overall revenue grew 4%.