COMPUTER INDUSTRY RETURNS MARKET FUNDAMENTAL VALUES
| Recent dividend adjusted monthly (3rd Fri. to 3rd Fri.) returns, dividends (D) and splits for AAPL, IBM, MSFT, SP500 and 1 Mo. T-Bills | Dividends and Splits | |||||||
| Month (Note 1) |
AAPL | IBM | MSFT | SP500 | T-Bill (Note 2) |
AAPL | IBM | MSFT |
| Apr-95 | 11.39% | 10.89% | 7.24% | 2.55% | 0.48% | . | . | . |
| May-95 | 9.27% | 2.18% | 13.83% | 2.06% | 0.36% | . | . | . |
| Jun-95 | 2.66% | -0.80% | 1.90% | 3.82% | 0.37% | . | D=$0.120 | . |
| Jul-95 | -0.29% | 11.88% | 5.75% | 2.49% | 0.46% | . | . | . |
| Aug-95 | 2.60% | 7.72% | 5.57% | 1.00% | 0.35% | D=$0.120 | D=$0.250 | . |
| Sep-95 | -20.06% | -17.17% | -3.80% | 4.32% | 0.36% | . | . | . |
| Oct-95 | -2.09% | 3.39% | 2.21% | 0.71% | 0.45% | . | . | . |
| Nov-95 | 14.24% | 0.00% | -8.51% | 2.15% | 0.34% | . | D=$0.250 | . |
| Dec-95 | -11.85% | -5.13% | 1.17% | 2.71% | 0.46% | D=$0.120 | . | . |
| Jan-96 | -15.25% | 13.02% | 10.75% | -0.73% | 0.32% | . | . | . |
| Feb-96 | -7.95% | 15.93% | 6.53% | 5.91% | 0.31% | . | D=$0.250 | . |
| Mar-96 | -5.91% | 1.59% | 4.60% | -1.01% | 0.29% | . | . | . |
| Apr-96 | -3.14% | -12.10% | 7.20% | 0.57% | 0.44% | . | . | . |
| May-96 | 10.22% | 5.55% | 6.61% | 3.70% | 0.32% | . | D=$0.350 | . |
| Jun-96 | -18.10% | -11.05% | 5.88% | -0.31% | 0.43% | . | . | . |
| Jul-96 | -8.29% | -4.94% | -2.33% | -4.13% | 0.27% | . | . | . |
| Aug-96 | 8.43% | 17.71% | 2.70% | 4.15% | 0.32% | . | D=$0.350 | . |
| Sep-96 | 1.67% | 11.82% | 11.17% | 3.28% | 0.42% | . | . | . |
| Oct-96 | 16.12% | 5.18% | -2.44% | 3.46% | 0.34% | . | . | . |
| Nov-96 | -5.88% | 12.35% | 10.58% | 3.77% | 0.32% | . | D=$0.350 | . |
| Dec-96 | -6.00% | 6.55% | 12.25% | 1.53% | 0.44% | . | . | 2/1 Split |
| Jan-97 | -28.72% | 6.88% | 4.19% | 3.65% | 0.30% | . | . | . |
| Feb-97 | -2.24% | -16.44% | 9.04% | 3.30% | 0.43% | . | D=$0.350 | . |
| Mar-97 | 1.53% | -3.72% | -1.05% | -2.20% | 0.30% | . | . | . |
| Apr-97 | 10.53% | 5.47% | 14.50% | -2.27% | 0.36% | . | . | . |
| May-97 | -6.12% | 21.93% | 7.73% | 8.27% | 0.33% | . | D=$0.400 | . |
| Jun-97 | -9.78% | 5.74% | 12.51% | 8.31% | 0.41% | . | 2/1 Split | . |
| Jul-97 | 11.45% | 16.27% | 8.18% | 1.85% | 0.32% | . | . | . |
| Aug-97 | 34.05% | -4.18% | -5.43% | -1.58% | 0.33% | . | D=$0.200 | . |
| Sep-97 | -5.65% | -0.69% | 1.74% | 5.52% | 0.46% | . | . | . |
| Oct-97 | -8.26% | -3.84% | -2.17% | -0.67% | 0.31% | . | . | . |
| Nov-97 | -9.63% | 10.82% | 4.25% | 2.01% | 0.37% | . | D=$0.200 | . |
| Dec-97 | -24.74% | -3.26% | -6.66% | -1.69% | 0.30% | . | . | . |
| Jan-98 | 37.44% | 2.82% | 5.10% | 1.56% | 0.34% | . | . | . |
| Feb-98 | 6.31% | -2.07% | 14.70% | 7.56% | 0.42% | . | D=$0.200 | 2/1 Split |
| Mar-98 | 31.88% | -0.01% | 5.48% | 6.28% | 0.31% | . | . | . |
| Apr-98 | 5.92% | 5.57% | 12.61% | 2.14% | 0.36% | . | . | . |
| May-98 | 5.82% | 16.16% | -2.92% | -1.25% | 0.33% | . | D=$0.220 | . |
| Jun-98 | -8.46% | -15.06% | 5.87% | -0.73% | 0.42% | . | . | . |
| Jul-98 | 36.88% | 13.25% | 24.55% | 7.82% | 0.32% | . | . | . |
| Aug-98 | 16.61% | 6.58% | -6.20% | -8.89% | 0.42% | . | D=$0.220 | . |
| Sep-98 | -14.54% | -2.49% | -5.75% | -5.66% | 0.31% | . | . | . |
| Oct-98 | -0.17% | 9.02% | -0.28% | 3.56% | 0.30% | . | . | . |
| Nov-98 | -3.75% | 17.96% | 8.15% | 10.14% | 0.28% | . | D=$0.22 | . |
| Dec-98 | -0.35% | 7.14% | 21.13% | 2.10% | 0.22% | . | . | . |
| Jan-99 | 17.41% | 7.80% | 8.66% | 4.66% | 0.27% | . | . | . |
| Feb-99 | -9.99% | -7.08% | -1.34% | -0.33% | 0.37% | . | D=$0.22 | . |
| Mar-99 | -9.92% | -1.78% | 15.86% | 4.51% | 0.28% | . | . | . |
| Apr-99 | 5.78% | 1.08% | 1.21% | 1.52% | 0.29% | . | . | 2/1 Split |
| May-99 | 23.99% | 35.36% | -10.46% | 0.86% | 0.37% | . | D=$0.24 | . |
| Jun-99 | 7.26% | 4.93% | 9.59% | 0.94% | 0.28% | . | D=$0.22 & 2/1 Split | . |
| Jul-99 | 12.60% | 12.84% | 16.99% | 5.66% | 0.28% | . | . | . |
| Aug-99 | 11.54% | -10.55% | -16.15% | -5.79% | 0.39% | . | D=$0.12 | . |
| Sep-99 | 29.99% | 2.98% | 15.67% | -0.09% | 0.29% | . | . | . |
| Oct-99 | -3.087% | -13.958% | -8.684% | -6.59% | 0.28% | . | . | . |
| Nov-99 | 23.973% | -3.129% | -2.342% | 13.996% | 0.290% | . | D=$0.12 | . |
| Dec-99 | 8.181% | 4.306% | 34.012% | -0.068% | 0.245% | . | . | . |
| Jan-00 | 11.313% | 10.780% | -9.978% | 1.401% | 0.350% | . | . | . |
| Feb-00 | -0.056% | -6.733% | -7.841% | -6.610% | 0.314% | . | D=$0.12 | . |
| Mar-00 | 12.360% | -2.278% | 4.536% | 8.794% | 0.331% | . | . | . |
| Apr-00 | -4.900% | -5.628% | -20.566% | -2.044% | 0.448% | . | . | . |
| May-00 | -20.925% | 2.896% | -17.577% | -1.923% | 0.362% | . | D=$0.13 | . |
| Jun-00 | -2.992% | 6.565% | 11.527% | 4.088% | 0.340% | . | . | . |
| Jul-00 | 17.478% | 0.715% | -0.345% | 1.074% | 0.468% | . | . | . |
| Aug-00 | -6.651% | 5.302% | -1.815% | 0.779% | 0.394% | . | D=$0.13 | . |
| Sep-00 | 10.406% | 3.842% | -9.592% | -1.737% | 0.396% | . | . | . |
| Oct-00 | -64.693% | -24.200% | 1.558% | -4.699% | 0.511% | . | . | . |
| Nov-00 | -5.128% | 7.726% | 5.936% | -2.091% | 0.390% | . | D=$0.13 | . |
| Dec-00 | -24.000% | -13.861% | -28.772% | -4.063% | 0.394% | . | . | . |
| Jan-01 | 38.691% | 26.694% | 24.009% | 2.316% | 0.498% | . | . | . |
| Feb-01 | -2.564% | 3.488% | -6.049% | -3.055% | 0.317% | . | D=$0.13 | . |
| Mar-01 | 3.316% | -21.652% | -4.798% | -11.602% | 0.312% | . | . | . |
| Apr-01 | 27.560% | 27.447% | 26.466% | 8.035% | 0.412% | . | . | . |
| May-01 | -6.030% | 2.395% | -1.310% | 3.941% | 0.220% | . | D=$0.14 | . |
| Jun-01 | -13.132% | -3.270% | -0.103% | -6.006% | 0.222% | . | . | . |
| Jul-01 | -2.250% | -6.954% | 1.705% | -0.289% | 0.275% | . | . | . |
| Aug-01 | -9.560% | -0.918% | -10.552% | -4.037% | 0.227% | . | D=$0.14 | . |
| Sep-01 | -12.950% | -13.472% | -19.667% | -16.883% | 0.288% | . | . | . |
| Oct-01 | 16.338% | 13.425% | 16.476% | 11.149% | 0.138% | . | . | . |
| Nov-01 | 3.661% | 11.680% | 13.558% | 6.071% | 0.151% | . | D=$0.14 | . |
| Dec-01 | 10.701% | 6.420% | 2.722% | 0.548% | 0.169% | . | . | . |
| Jan-02 | 5.571% | -6.352% | -2.132% | -1.512% | 0.164% | . | . | . |
| Feb-02 | 7.803% | -9.821% | -8.880% | -2.075% | 0.100% | . | D=$0.14 | . |
| Mar-02 | 4.393% | 3.790% | 3.752% | 5.613% | 0.107% | . | . | . |
| Apr-02 | 0.120% | -16.659% | -8.465% | -3.515% | 0.151% | . | . | . |
| May-02 | 0.120% | -3.551% | -2.045% | -1.651% | 0.110% | . | . | . |
| Jun-02 | -32.627% | -19.769% | -6.693% | -10.614% | 0.145% | . | . | . |
| Jul-02 | -11.217% | 4.727% | -5.203% | -14.293% | N.A. | . | . | . |
| Aug-02 | 5.682% | 10.417% | 0.888% | 9.556% | 0.111% | . | D=$0.15 | . |
| Sep-02 | -5.946% | -19.445% | -5.080% | -8.977% | 0.111% | . | . | . |
| Oct-02 | -3.564% | 16.161% | 11.989% | 4.613% | 0.107% | . | . | . |
| Nov-02 | 11.227% | 7.960% | 6.660% | 2.877% | 0.108% | . | D=$0.15 | . |
| Dec-02 | -11.348% | -0.275% | -6.439% | -1.548% | 0.099% | . | . | . |
| Jan-03 | -0.283% | 1.892% | -2.979% | 0.673% | NA | . | . | . |
| Feb-03 | 6.383% | -1.661% | -4.042% | -5.945% | 0.092% | . | $0.1600 | . |
| Mar-03 | 0.000% | 6.191% | 7.964% | 5.614% | 0.077% | . | . | . |
| Apr-03 | -12.533% | -0.754% | -4.027% | -0.247% | 0.077% | . | . | . |
| May-03 | 43.293% | 5.803% | 0.275% | 5.676% | 0.077% | . | $0.1600 | . |
| Jun-03 | 2.128% | -4.574% | 2.972% | 5.442% | . | . | . | . |
| Jul-03 | 8.646% | -1.413% | 2.127% | -0.238% | 0.053% | . | . | . |
| Aug-03 | -5.513% | -2.114% | -5.020% | -0.267% | 0.054% | . | $0.1600 | . |
| Sep-03 | 14.561% | 14.048% | 17.306% | 4.606% | 0.076% | . | . | . |
| Oct-03 | 0.753% | -4.342% | -2.904% | 0.291% | 0.057% | . | . | $0.1600 |
| Nov-03 | -10.857% | -0.493% | -13.204% | -0.389% | 0.071% | . | $0.1600 | . |
| Dec-03 | -2.860% | 5.089% | 8.961% | 5.157% | 0.060% | . | . | . |
| Jan-04 | 15.330% | 2.341% | 1.645% | 4.699% | 0.056% | . | . | . |
| Feb-04 | -1.408% | 2.256% | -4.459% | 0.375% | 0.064% | . | $0.16 | . |
| Mar-04 | 15.446% | -5.847% | -7.301% | -3.001% | 0.061% | . | . | . |
| Apr-04 | 12.838% | 0.720% | 2.152% | 2.237% | 0.061% | . | . | . |
| May-04 | -7.094% | -5.386% | 2.901% | -3.618% | 0.076% | . | $0.18 | . |
| Jun-04 | 21.394%. | 3.363% | 9.502% | 3.791% | 0.059% | . | . | . |
| Jul-04 | -2.157% | -6.418% | -3.069% | -2.963% | 0.066% | . | . | . |
| Aug-04 | -4.348% | 1.364% | -1.019% | -0.276% | 0.094% | . | $0.1800 | . |
| Sep-04 | . | . | . | . | 0.087% | . | . | . |
1. "Month" = liquidation month
2. T-bill based on 3rd Friday WSJ Ask for maturity on Thursday before 3rd Friday