Got stocks? If you did, and if you owned a little AAPL or MSFT, then you had a good year. Chance Miller explains the outsized influence of Apple and Microsoft on the market.
Apple’s 2019 got off to a rocky start when it was forced to issue a rare revision to its earnings forecast for the fiscal first quarter of 2019. Since then, however, AAPL stock has outperformed the rest of the market, with CNBC reporting that Apple and Microsoft together accounted for almost 15% of the S&P 500′s advance in 2019.
What goes down must come up again. These are crazy numbers.
APL has surged by 85% in 2019 while Microsoft has increased 55%. In total, Apple is responsible for 8.2% of the total 2019 market gains, followed by Microsoft at 6.6%.