Apple (AAPL, Financial) added 348 basis points to the Fund's return, as its stock rose from $73.41 to $132.69, for a total return of 82.3%. Work-from-home trends significantly benefited the world's most valuable consumer electronics company. Results across Apple's products were strong and resilient throughout the year, as people increasingly relied on them to work and play from home. Investor optimism around the latest iPhone launch, coupled with the 5G upgrade cycle, also drove shares higher.
From Jerome Dodson (Trades, Portfolio)'s Parnassus Endeavor Fund (Trades, Portfolio) fourth-quarter 2020 commentary.
