In a Year of Tumultuous Change due to the Outbreak of COVID-19 worldwide, Apple Along with High-Performing S&P Tech Stocks, Bolsters the Economy

“Apple capped off a fiscal year defined by innovation in the face of adversity with a September quarter record, led by all-time records for Mac and Services. Despite the ongoing impacts of COVID-19, Apple is in the midst of our most prolific product introduction period ever, and the early response to all our new products, led by our first 5G-enabled iPhone lineup, has been tremendously positive. From remote learning to the home office, Apple products have been a window to the world for users as the pandemic continues, and our teams have met the needs of this moment with creativity, passion, and the kinds of big ideas that only Apple can deliver.”

— Tim Cook, Apple’s CEO

Data via Refinitiv; Graph by Julia Horowitz, CNN

On Thursday, Apple announced financial results for its fiscal 2020 fourth quarter ended September 26, 2020 with a record September quarter revenue of $64.7 billion and quarterly earnings per diluted share of $0.73. Live streaming of Apple’s Q4 2020 financial results conference call is now available at apple.com/investor/earnings-call/ for two weeks. Consolidated financial reports can be viewed here.

Other notable S&P tech stocks keeping the economy going strong include Alphabet’s Google, Amazon, Netflix, Facebook and Microsoft.

Data via FactSet, Image via Financial Times, Mamta Badkar

Over the course of the last three months starting in September, Apple has been releasing a slew of new products with one event per month.

September’s Event brought a new Apple Watch SE, an eighth generation iPad, iPad Air and iOS 14.

October’s Event brought a brand new iPhone 12 with Pro and Max versions and a new HomePod Mini.

This month on November 10th, Apple is expected to release new products such as updated MacBook Pros and the debut of Apple Silicon Macs.

COVID-19 has brought on many challenges, but it has also brought opportunities from increased product delivery at home for Amazon, which has seen its revenue skyrocket to $96 billion in the past quarter - a new record - to an increased demand for Apple’s products as more people work from home.