Broadest Bull Market Rally Since 1990 Masked by Apple
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While Apple Inc.’s influence on the three-year bull market in American equities is among the biggest ever exerted by a single stock, the rally would be doing just fine without it.
The world’s most valuable company has surged 653 percent since March 9, 2009, accounting for 8 percent of the Standard & Poor’s 500 Index’s climb to 1,368.71 from 676.53, according to data compiled by Bloomberg. The impact is second only to Cisco Systems Inc. between 1998 and 2000, data compiled by Birinyi Associates Inc. show. At the same time, the S&P 500 has almost doubled since March 2009 even when Apple is excluded.