Apple has advanced 13% 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 84% rally in 2020 compared to Amazon’s 80% increase. 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. The Cupertino, California-based company is trading at 34 times projected 2021 profit, up from 10 at the beginning of 2019.

Source: Mint December 30, 2020 03:45 UTC