Apple 2.0

Covering the business that Steve Jobs built

Apple was the safest of safe havens last quarter

October 3, 2011: 5:00 AM ET

Up 13.59% in a quarter in which the NASDAQ fell 12.91%

Click to enlarge. Source: Google Finance

In his Tech Trader Daily column last week, Barron's Tiernan Ray noted that the three months that ended Friday saw some spectacular flameouts in the tech sector, including Netflix (NFLX) down 56.88% for the quarter, AOL (AOL) down 39.58%, Hewlett-Packard (HPQ) down 38.32% and Yahoo (YHOO) down 12.4%.

Amid the carnage, however, there were some relatively safe havens. Ray mentioned Apple (AAPL), IBM (IBM), Google (GOOG) and Cisco (CSCO).

He didn't include a chart, so we have. And as thin blue line above makes clear, Apple, up 13.59% in Q3, was the safest haven of them all.

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About This Author
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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