Hardware Takes the LeadWhat have investors learned?
- Over the past 12 months, hardware has become the star of the show. Intel shares have gained 45%, Sun has risen 29% from an extremely low base, and Dell has advanced 23%. Trailing badly are the software guys, with Microsoft shares advancing just 7% in the past 12 months, and once-mighty Oracle up just 2%.
- Since April 2001, hardware also holds the lead, with Dell up 38% and Intel down 9%. Meanwhile, Microsoft is down 18% and Oracle is down 28%. Sun has become inconsequential over the time span, having lost enterprise software business to inexpensive Linux providers and enterprise semiconductor business to low-price leader Intel. Sun shares are down 75%.
- Since April 1999, however, Oracle shares are in the lead with an 82% gain, followed by Intel with a 10% loss, Dell with a 13% loss and Microsoft with a 32% loss. Meanwhile, Amazon.com (AMZN) and Yahoo! (YHOO) fared even worse, with declines of 45% and 35%, respectively.