Apple investors have been smiling ear-to-ear.
The second quarter of 2020 had already been an outstanding period for the Cupertino company’s stock, as it recovered from the depths of the COVID-19 crisis. When many experts and investors expressed concerns over rich valuations, shares climbed even further in July: +16.5%.
Year-to-date, Apple has climbed 45%, dividends included, while the S&P 500 has barely entered positive territory. Also, Apple has outperformed the information technology (ticker $VGT) and consumer discretionary (ticker $VCR) sectors by at least 24 percentage points so far in 2020.
A very strong finish
Notice above that Apple had been performing on par with the S&P 500 and the FAAMG ex-Apple group until the last couple of days of July. But then, impressive fiscal third quarter earnings results propelled shares substantially higher, as the month came to a close.
Here are a couple of interesting facts about the performance of Apple shares in July 2020:
- It has been the best month of share price performance since August 2018.
- It has been the best month of July of the past 14 years (i.e. since 2006).
- It has pushed the rolling 12-month returns to over 100% (i.e. double the prior-year price) for the first time since 2010 – the year that the iPad was first introduced.
Below is a chart that compares the performance of Apple stock against the S&P 500 and the industry. Apple’s dashboard is looking solid green, while shares currently trade at the highest “premium” to 50-day and 150-day moving averages of the past 12 months at least.
Explore more data and graphs
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(Disclaimers: the author may be long one or more stocks mentioned in this report. Also, the article may contain affiliate links. These partnerships do not influence editorial content. Thanks for supporting The Apple Maven)