Apple’s stock value has increased by 87 per cent over the past five years, according to data compiled by market-research firm Birinyi Associates.

Other tech companies whose stock value has received a boost despite the IT industry’s floundering climate include Microsoft, Amazon, AOL, and Dell.

Microsoft’s stock increased by 74 per cent over five years, says the report.

It goes on to note that “a lot of the companies many investors assumed were stalwarts and havens – such as Coca-Cola, Gillette, General Motors, Ford, Caterpillar, and Boeing – have lost value over five years”.

The report adds that the lists of long-term winners and losers will surprise investors, suggesting, “that at least some of the gains in the tech world during the past half-decade were legitimate. Perhaps some of the productivity miracle was real, after all.”