The New Stock Titan of 2015 Isn't Apple
- Amazon has surged 67% this year, while Apple's up 1.8%
- `Nervous investors are looking to shift money from Apple'
Amazon Dethrones Apple as 'Stock You Need to Own'
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Last year, failing to own Apple Inc. was the most painful mistake a U.S. equity fund manager could have made. This year, that distinction goes to Amazon.com Inc.
Up 67 percent in 2015 as of its last close, the online retailer has contributed the most to mitigating losses in the Standard & Poor’s 500 Index this year. Amazon’s ascent has been aided not just by Apple’s misfortunes, but by its perceived haven status at a time when investors want nothing to do with emerging markets. The company, which gets 57 percent of its revenue from North America, is less exposed to global growth than its peers.