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.

As of Monday, AAPL 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%. For comparison’s sake, Facebook is the next largest contributor to the market’s 2019 return at just under 3%. In total, Apple and Microsoft’s growth has been “greater than the next 8 biggest contributors combined.”

Another thing to keep in mind is that Apple and Microsoft’s success comes in an already strong year for the S&P 500. Depending on gains today, the S&P 500 could have its best year since 1997, CNBC reports:

The S&P 500′s 2019 gain is its best since 2013 and could be even more historic if stocks continue to gain on Tuesday. The benchmark is a percentage point away from having its best year since 1997.

With their 2019 surge, both Microsoft and Apple sit about $1 trillion market capitalization valuations. Apple first accomplished that feat in August of 2018, but it bounced back and forth until this year. As we reported last week, AAPL’s 2019 performance is its best since 2009.

What about 2020? Analysts seem to have reached a consensus that the release of a 5G iPhone will spur a strong upgrade season. Apple’s wearables business, powered by Apple Watch and AirPods, is also expected to continue to grow. Apple is first expected to introduce a new low-cost iPhone model in early 2020, followed by the iPhone 12 lineup in the fall.

Apple hasn’t yet scheduled its Q1 2020 earnings release, which will cover the holiday shopping season, but we expect it to take place towards the end of January or early in February.

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