Attached is a chart that shows the equity performance of Apple versus the S&P 500, since the beginning of 2011. The Apple share price has risen by over 80% in the past 15 months, while the S&P has recorded a modest gain against the backdrop of strong corporate earnings. Apple did especially well during the “double-dip” fear in Q2 and Q3 2011, and has soared since the beginning of 2012.
In contrast Sony has had to double their loss estimate for the current financial year ended March 2012 to $6.4 billion - its worst annual loss since 1990.
It is fair to argue that the strong performance of Apple shares tends to skew the overall performance of US equity indices and aggregate earnings to the upside, due to their increasing weight.
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