Apple 2.0

Covering the business that Steve Jobs built

Market free fall: How Apple fared

October 7, 2008: 9:40 AM ET

Apple was the outlier Monday. On a day in which the Dow lost nearly 370 points (having plunged 800 points in midday trading), Apple's shares actually ended up in positive territory, closing at $98.14, up 1.1%.

But to see that as good news you would have to ignore the fact that at one point Monday Apple was trading for $87.24 a share -- off nearly 60% from its December 2007 high of $202.96.

Apple closed down nearly 9 points (9.5%) Tuesday, while the Dow fell more than 508 points (5.11%).

To get a feel for how Apple is really faring, you can compare its performance with what CNBC's Jim Cramer calls the four horsemen of technology: Apple (AAPL), Research in Motion (RIMM), Google (GOOG) and Amazon (AMZN).

As it turns out, the biggest loser over the past two weeks has been RIM, down 38.5% over the past 10 trading days -- and off nearly 65% from its 12-month high.

The best performer of the four: Amazon, off only 9% for the fortnight, and within 40% of its 12-month high.

But Amazon's price-to-earnings ratio is a dizzying 47, while Apple is now hovering around 20. That's still above the market average, as Henry Blodget points out in Silicon Alley Insider, "but low for a stock with this wide and passionate a following and a still-solid growth story."

Here's a snapshot of the past two weeks of trading, taken before the markets opened on Tuesday:

Below: live fever charts for all four stocks.

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About This Author
Philip Elmer-Dewitt
Philip Elmer-Dewitt
Editor, Apple 2.0, Fortune

Philip Elmer-DeWitt has been covering Apple since 1982, first for Time Magazine, and now on the Web for Fortune.com.

Email | @philiped | RSS
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Company Price Change % Change
Bank of America Corp... 7.02 0.04 0.57%
JPMorgan Chase and C... 33.49 -0.44 -1.30%
Oracle Corp 25.61 -0.64 -2.44%
General Electric Co 18.95 0.07 0.37%
Citigroup Inc 26.01 -0.40 -1.51%
Data as of May 18
Index Last Change % Change
Dow 12,369.38 -73.11 -0.59%
Nasdaq 2,778.79 -34.90 -1.24%
S&P 500 1,295.22 -9.64 -0.74%
Treasuries 1.70 0.00 0.00%
Data as of 2:48am ET
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