What a year it’s been. Year to date, the Dow has tacked on nearly 23% of upside in 2019, with the S&P 500 up 29%. The NASDAQ is up nearly 36%. We may see even higher highs with Vice Premier Liu He set to sign off on the “phase one” trade deal later this week.
Apple (AAPL) helped lead the way, rallying nearly 90% on the year.
Unbelievably, the New Year could be even better.
Not only could Apple win the 5G market share race, it’ll benefit from the wider adoption of wearables. Its Apple Watch, for example, accounts for nearly half of all smartwatch sales. Apple has plans to double its services revenue by 2021. Services revenue currently accounts for 20% of AAPL revenue, up 16% year over year.
Advanced Micro Devices (AMD) had an impressive year of its own, too.
Since 2019 began, the stock has rallied 152% — and could also see higher highs.
Analysts over at RBC just raised their target price to $53 “as data center demand ramps up and gaming sales come in better than feared, as we expect, this should lead to higher gross margins relative to current Street expectations,” as quoted by The Street.
Better, the company has plans to launch more 7-nm products that are expected to give a significant boost to the firm’s bottom line. Three, new gaming consoles from Microsoft and Sony Corporation are set for a late 2020 launch, and will both use AMD chips. It also doesn’t hurt that AMD continues to gain market share from Intel.
In 2020, look for the 5G boom to fuel higher highs in both stocks.