{"id":458494,"date":"2020-12-30T08:59:16","date_gmt":"2020-12-30T06:59:16","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=458494"},"modified":"2020-12-30T08:59:16","modified_gmt":"2020-12-30T06:59:16","slug":"apple-hits-record-after-december-surge-sends-it-past-amazon","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/technology\/458494\/apple-hits-record-after-december-surge-sends-it-past-amazon\/","title":{"rendered":"Apple hits record after December surge sends it past Amazon"},"content":{"rendered":"

Apple Inc shares briefly rallied to an intraday record on Tuesday, continuing a year-end surge that\u2019s cementing its lead over Amazon.com Inc as 2020\u2019s best performer among the largest technology stocks.<\/p>\n

Apple has advanced 13% in December amid signs of strong demand for its iPhone 12 models and optimism about its self-driving car efforts.<\/p>\n

The gains propelled Apple past Amazon with an 84% rally in 2020 compared to Amazon\u2019s 80% increase. The S&P 500 is up 15% this year.<\/p>\n

Wall Street has grown increasingly bullish on Apple\u2019s 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.<\/p>\n

\"\"<\/a><\/p>\n

Apple\u2019s 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.<\/p>\n

After enjoying a boom in e-commerce sales this year, Amazon is expected to see slower expansion in 2021. Revenue is projected to climb 19% in 2021 after expanding at an estimated 35% clip in 2020.<\/p>\n

Apple rose as much as 1.5% to $138.79 before closing with a 1.3% decline. The Cupertino, California-based company is trading at 34 times projected 2021 profit, up from 10 at the beginning of 2019. Amazon is valued at 56 times estimated earnings.<\/p>\n

\n

Read: What to expect from car sales in South Africa in 2021<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Apple Inc shares briefly rallied to an intraday record on Tuesday, continuing a year-end surge that\u2019s cementing its lead over Amazon.com Inc as 2020\u2019s best performer among the largest technology stocks.<\/p>\n","protected":false},"author":59,"featured_media":198300,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9878],"tags":[657,51,26],"class_list":["post-458494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-amazon","tag-apple","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/458494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=458494"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/458494\/revisions"}],"predecessor-version":[{"id":458498,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/458494\/revisions\/458498"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/198300"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=458494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=458494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=458494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}