23 Dec COTW: Entire Energy Sector is Now Worth Less than Apple
Poor returns and rock-bottom sentiment in the energy sector was summed up well by a Piper Jaffrey report published last month. The report described interest in oil service stocks as being “at a career low”. “Collectively, the consensus view is that the oil service sector remains un-investable” the report went on. This week’s chart juxtaposes the sad current state of the energy sector with one of the top-performing stocks (Apple) in the top performing sector (Technology) over time. The chart presents their relative values as a percentage of the overall stock market. As of November, Apple is worth more than the entire energy sector.
The chart below can be downloaded here.
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