Apple, 2020’s best-performing Big Tech stock, surges to new record

Apple stock rallied to a new all-time intraday record high on Tuesday, continuing a year-end surge that’s cemented the company’s lead over Amazon as 2020’s best-performing Big Tech stock. Investors gained optimism from President Donald Trump’s signing of the latest coronavirus stimulus package. So far, Apple has gained 87% this year and is set to close out a second straight year with a gain above 80%.

Apple Park in Cupertino, California
Apple Park in Cupertino, California

Jeran Wittenstein and Ryan Vlastelica for Bloomberg News:

Apple has advanced 16% in December amid signs of strong demand for its iPhone 12 models and optimism about its self-driving car efforts. The gains propelled Apple past Amazon with an 87% rally in 2020 compared to Amazon’s 79% increase. The S&P 500 is up 16% this year.

Wall Street has grown increasingly bullish on Apple’s prospects in the coming year with analysts projecting that a recovering economy will fuel even more demand for iPhones, wearables such as Airpods and services. Apple’s revenue growth is expected to increase to 15% in fiscal 2021 from 6% in 2020, and profit growth is projected to double to 20%, according to data compiled by Bloomberg.

MacDailyNews Note: Very close to the open, Apple stock surged to its new all-time record high of $138.79 before settling near its previous close during morning trading.


  1. Amazon will surge much higher than Apple upon earnings, or at least, that’s how it usually works. Amazon could see a 15% or higher surge when earnings are announced while Apple will only move as much as 5%. Amazon continues to carry that sweet P/E of nearly 100 as Amazon has many more growth-confident investors than Apple. Still, it’s been a great year for both companies and shareholders. I’m glad Apple gives dividends and Amazon still doesn’t. If only Apple was just a bit more aggressive in acquisitions, I think investors would be more confident about Apple having better growth potential.

  2. I wonder about how Apple’s suppliers’ use of forced labor will affect its stock prices?

    “Apple’s longtime supplier accused of using forced labor in China
    New documents show Lens Technology, which makes iPhone glass and is owned by China’s richest woman, received Uighur Muslim laborers transferred from Xinjiang.”

    Probably won’t read any analysis of it here though… Gotta just keep plugging positive stock market reports, MDN’s bread and butter these days.

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