Apple Hits Record After December Surge Sends It Past Amazon

Apple shares a 13 percent share in December, due to signs of a strong demand for the iPhone 12 and optimism about self-driving efforts.

Apple briefly participated in the intraday record on Tuesday, continuing with year-end growth that strengthens Amazon's lead as the best performer in 2020 among major technology shares.


Apple improved 13 percent in December amid signs of strong demand for its iPhone 12 models and optimism about self-driving efforts. Gains overtook Apple surpass Amazon by 84 per cent in 2020 compared to an 80 per cent rise in Amazon. The S&P 500 has increased by 15 percent this year.

Wall Street has grown even more optimistic about Apple next year with analysts saying the revitalized economy will boost huge demand for iPhones, wearable items such as Airpods and services. Apple's revenue growth is expected to increase to 15 percent by 2021 revenue from 6% by 2020, while profit growth is expected to double to 20%, according to data compiled by Bloomberg.

After enjoying an increase in e-commerce sales this year, Amazon is expected to see a slight growth in 2021. Revenue is expected to increase by 19 percent by 2021 after a short-term expansion of an average of 35 percent by 2020.

Apple increased by about 1.5 percent to $ 138.79 (approximately Rs. 10,200) before closing down by 1.3%. The company in Cupertino, California is trading 34 times the 2021 fixed profit, up from 10 in early 2019. Amazon has a value of 56 times.