Comparison of one-, five- and ten-year cumulative total return for IBM, S&P 500 Stock Index and S&P Information Technology Index
The following graphs compare the one-, five- and ten-year cumulative total returns for IBM common stock with the comparable cumulative return of certain Standard & Poor’s (S&P) indices. Due to the fact that IBM is a company included in the S&P 500 Stock Index, the SEC’s proxy rules require the use of that index for the required five-year graph. Under those rules, the second index used for comparison may be a published industry or line-of-business index.
The S&P Information Technology Index is such an index. IBM is also included in this index.
Each graph assumes $100 invested on December 31 (of the initial year shown in the graph) in IBM common stock and $100 invested on the same date in each of the S&P indices. The comparisons assume that all dividends are reinvested.
One-year
| 2006 | 2007 | |
|---|---|---|
 IBM Common Stock |
$ 100.00 | $ 112.84 |
 S & P 500 Index |
100.00 | 105.49 |
 S & P Information Technology Index |
100.00 | 116.31 |
Five-year
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | |
|---|---|---|---|---|---|---|
| IBM Common Stock |
$ 100.00 | $ 120.50 | $ 129.16 | $ 108.71 | $ 130.20 | $ 146.92 |
| S & P 500 Index |
100.00 | 128.68 | 142.69 | 149.70 | 173.34 | 182.87 |
| S & P Information Technology Index |
100.00 | 147.22 | 150.99 | 152.49 | 165.32 | 192.28 |
Ten-year
| 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IBM Common Stock |
$ 100.00 | $ 177.48 | $ 208.54 | $ 165.07 | $ 236.05 | $ 152.33 | $ 183.55 | $ 196.75 | $ 165.60 | $ 198.33 | $ 223.80 |
| S & P 500 Index |
100.00 | 128.58 | 155.64 | 141.46 | 124.65 | 97.10 | 124.96 | 138.55 | 145.36 | 168.32 | 177.57 |
| S & P Information Technology Index |
100.00 | 178.14 | 318.42 | 188.18 | 139.50 | 87.31 | 128.54 | 131.83 | 133.13 | 144.34 | 167.88 |
