Apple 2.0

Covering the business that Steve Jobs built

Apple stock is up 31 percent this year

April 3, 2009: 8:54 AM ET

The stock is not what it was in 2007, when it rose nearly 136% in the space of 12 months, but Apple (AAPL) is off to a good start in 2009.

From Jan. 2, when it opened at $85.88, to April 2, when it closed at $112.71, Apple has gained 31.24% -- easily outpacing the Dow, which is still down more than 9% for the year.

So how is Apple doing relative to the stocks it's most often compared with, the so-called "Four Horsemen of Tech"? As the chart below shows, it has so far out-performed Google (GOOG) and Research in Motion (RIMM), but paled beside Amazon (AMZN), which is up 48%.

. Four horsemen q1 2009

Apple is nothing if not volatile, but not matter what happens there's no way that 2009 could to end up looking like 2008, when its shares fell more than 56% and its market cap dropped nearly $100 billion. Apple's enterprise value today is $71 billion and $28.8 billion of that is in cash and negotiable securities.

Apple opened at $113.75 and was up more than 2% in early trading Friday.

The big mover Friday, however, was RIM, which opened at $58.13, up nearly 20% following Thursday's surprisingly strong fourth-quarter earnings report. That pushes it ahead of Apple in the Four Horsemen chart, but still trailing Amazon.

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Philip Elmer-Dewitt
Philip Elmer-Dewitt
Editor, Apple 2.0, Fortune

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

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