• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Don’t cry for Apple

By
Philip Elmer-DeWitt
Philip Elmer-DeWitt
Down Arrow Button Icon
By
Philip Elmer-DeWitt
Philip Elmer-DeWitt
Down Arrow Button Icon
January 1, 2014, 7:55 AM ET
Apple vs. S&P 500: 2013
Apple vs. S&P 500: 2009-2013



FORTUNE — Apple (AAPL) as an investment looks very different, depending on your time frame.

This could explain why long-term investors tend to be happy campers. More recent arrivals, not so much.

People who tried to beat high-frequency trading algorithms in the Apple options markets may never come back. See The rise and fall of Andy Zaky.

About the Author
By Philip Elmer-DeWitt
See full bioRight Arrow Button Icon
Latest in
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Most Popular
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon
Latest in
Sens. Tim Scott (R-S.C.) and Elizabeth Warren (D-Mass.) whisper to each other during a Senate committee meeting
CryptoCryptocurrency
The crypto industry’s Clarity Act hits a critical juncture: Where things stand going into Senate markup
By Jack KubinecMay 13, 2026
33 minutes ago
America’s data centers are thirsty. Rural towns are paying the price—from tanked water pressure to stolen desert groundwater
EnvironmentAmazon
America’s data centers are thirsty. Rural towns are paying the price—from tanked water pressure to stolen desert groundwater
By Catherina GioinoMay 13, 2026
2 hours ago
geezer
North AmericaAnimals
Debbie Gibson, Geezer Butler of Black Sabbath want you to adopt a beagle rescued from an experimental lab in Wisconsin
By Scott Bauer and The Associated PressMay 13, 2026
4 hours ago
spencer
PoliticsElections
Los Angeles may have its own Zohran in the form of ex-reality star Spencer Pratt
By Jonathan J. Cooper and The Associated PressMay 13, 2026
4 hours ago
charles
PoliticsUnited Kingdom
King Charles lays out government agenda as Starmer fights for survival: ‘absolutely preposterous’
By Pan Pylas, Danica Kirka and The Associated PressMay 13, 2026
4 hours ago
After nearly a year of delays, Trump Mobile’s CEO says the gold-plated Trump phone will begin shipping to buyers this week
North AmericaDonald Trump
After nearly a year of delays, Trump Mobile’s CEO says the gold-plated Trump phone will begin shipping to buyers this week
By Marco Quiroz-GutierrezMay 13, 2026
4 hours ago
Most Popular
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
1 day ago
Nearly 50,000 Lake Tahoe residents have to find a new power source after their energy source looks to redirect lines to data centers
Travel & Leisure
Nearly 50,000 Lake Tahoe residents have to find a new power source after their energy source looks to redirect lines to data centers
By Catherina GioinoMay 12, 2026
1 day ago
It’s not just Canadian tourists snubbing U.S. cities. Business leaders are cancelling more trips to America as geopolitical tensions continue
North America
It’s not just Canadian tourists snubbing U.S. cities. Business leaders are cancelling more trips to America as geopolitical tensions continue
By Sasha RogelbergMay 12, 2026
1 day ago
Anthropic’s Daniela Amodei says entrepreneurs should go on vacation to road test potential cofounders—if they’re a drain, they’re ‘the wrong choice’
Success
Anthropic’s Daniela Amodei says entrepreneurs should go on vacation to road test potential cofounders—if they’re a drain, they’re ‘the wrong choice’
By Emma BurleighMay 12, 2026
1 day ago
Forget U.S. debt, China's total borrowing is in 'a league of its own'—much worse and deteriorating faster, analyst says
Economy
Forget U.S. debt, China's total borrowing is in 'a league of its own'—much worse and deteriorating faster, analyst says
By Jason MaMay 11, 2026
2 days ago
U.S. hotels are calling the World Cup a 'non-event' and 80% warn bookings are falling short of expectations, report finds
North America
U.S. hotels are calling the World Cup a 'non-event' and 80% warn bookings are falling short of expectations, report finds
By Sasha RogelbergMay 12, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.