Apple again become best-performing large technology stock of 2020

At the end of this year. Looking back on this year, as per news, after 2019, Apple has once again become the best-performing large technology stock of the year, with a cumulative increase that surpassed Amazon.

Affected by good news such as strong demand for the iPhone 12 series and self-driving cars, Apple’s stock price has risen by 16% in December. Apple’s stock price rose by 87% in 2020, and Amazon also performed very well, rose by 80%.

Analysts expect that the economic recovery will drive the market demand for iPhones and AirPods and other devices.

Gene Munster, a well-known Apple analyst and founder and managing partner of Loup Ventures, a Wall Street venture capital firm, said, ‘ We predict that in 2021, the best performing stock of the top five US technology stocks will still be Apple.

In 2019, Apple will be the best performer. Yes, the stock will successfully defend its title again in 2020. He is optimistic about the development of Apple in the next year.

We believe that Apple’s stock price will be close to US$200 in the next few years, up 46% from the current level.

He pointed out that the target price of US$200 for Apple is based on estimated earnings per share in 2022. 5.70 US dollars and give 35 times earnings ratio.

(Via)