# Apple hits record after December surge sends it past Amazon (HT Tech) > After enjoying a boom in e-commerce sales this year, Amazon is expected to see slower expansion in 2021. # Apple hits record after December surge sends it past Amazon ## After enjoying a boom in e-commerce sales this year, Amazon is expected to see slower expansion in 2021. Dec 30 2020, 18:14 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![FILE PHOTO: The Apple Inc logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar](https://images.hindustantimes.com/tech/img/2020/12/30/1600x900/2020-12-30T052830Z_1_LYNXMPEGBT07V_RTROPTP_3_APPLE-AUTOS_1609332135009_1609332182584.JPG) FILE PHOTO: The Apple Inc logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar (REUTERS) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By BLOOMBERG Apple Inc. shares briefly rallied to an intraday record on Tuesday, continuing a year-end surge that’s cementing its lead over Amazon.com Inc. as 2020’s best performer among the largest technology stocks. 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. The S&P 500 is up 15% this year. Wall Street has grown increasingly bullish on Apple’s 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. Apple’s 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. Also read click here. 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. 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. 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