Apple Stocks Surpassed Amazon

Apple Stocks Surpassed Amazon Apple stocks surpassed Amazon. Apple shares peaked with a record high in December and outperformed Amazon stocks. Apple Inc. shares broke the intraday record for Tuesday's trading and continued to rise, supporting the year-end championship above Amazon stocks. Tech giant Apple saw a 16 percent increase in December, with strong demand for iPhone 12 models and indicators of optimism about self-driving vehicle project. This rise enabled Apple to surpass Amazon with a rally of 87 percent compared to Amazon's 79 percent increase in 2020. Wall Street further raised Apple's expectations next year as analysts expect a recovering economy will increase demand for devices such as iPhones and Airpods. According to the news in Bloomberg, the revenue growth at Apple is expected to increase from 6 percent in fiscal year 2020 to 15 percent in fiscal year 2021 and with the doubling profits to 20 percent.