October was a punishing month for technology stocks, but as Apple prepares to report fiscal fourth-quarter results Thursday afternoon, it's managed the downturn better than any of its peers.
Facebook closed down 7.7 percent for the month. Amazon was down 20 percent, its worst month since November 2008. Netflix slid 19.3 percent. Alphabet ended the month down 9.7 percent. And the tech-heavy Nasdaq composite index was down 9.2 percent, its steepest drop since November 2008.
Apple largely bucked the trend, finishing October down just 3.1 percent.
If Apple can deliver a strong earnings report, investors will be justified in viewing it as one of the most reliable big tech stocks to own. Netflix may dominate the world of digital entertainment and Amazon is positioned to own cloud computing and retail, but Apple has the most consistent profit engine, thanks to the millions of devices it sells every quarter.