When the market goes up, AMGN goes down. When the market goes down, AMGN goes up. The only problem with this picture is that the market goes up more often than it goes down, therefore AMGN goes down by more - and more often - than it goes up. Since 2005, when AMGN was about $80, it's up by a measly 42%. That's about 5% annualized, and, with the exception of the past 9 quarters, it paid no dividend whatsoever. AMGN has been one of the biggest disappointments of the past 14 years. With dividends (reinvested) taken into account, it would have to go to about $300 just to be even with the S&P 500 Index. I totally fail to see how you can get excited about this stock at this price. As a "faithful long" since 1987, this stock has rewarded me with nothing since 2000.