Qualcomm is a global leader in wireless technology and communication equipment, with a market cap of over $96 billion. Another retailer, eToys, ended the year at $26.25, above its offering price of $20, but far below the high of $86 reached in October.The story of the stock market in 1999 was of stocks that flew higher than at any time in the last decade. It more than doubled the day it went public -- April 15, 1996 -- and within a few months had fallen back to the offering price. That compared with an offering price, adjusted for the split, of $6, and a first-day close of $12.22.
Before it disclosed that investment, the family of Alexander Vik, the company's chief executive, was given options to buy a million shares of stock, at a price of $3.25 each. What's ahead for 2000?Instead, he is looking to industry niche players.Analysts and venture capitalists agreed that in either case, the companies that provide the hardware behind business-to-business commerce, such as IBM, Hewlett-Packard and Sun Microsystems, also will capture a tremendous windfall.With the amount of money being thrown at Linux, it could become a self-fulfilling prophecy. Qualcomm rose 2,619 percent in 1999. The company, which since its inception in 1996 has reported losses of $112 million on revenue of $15 million, now has a market value of $44 billion.The size of the moves made by the winners reflects the speculative fever gripping the market and is based on hopes that as the Internet transforms the economy, companies that did not exist a few years ago will become giants.G.M. "With the U.S. equity markets adding $3 trillion in value in 1999,investors should be satisfied," said Richard Cripps, market strategist for Legg Mason. The share closed 8.5 percent higher at 167.15 euros, boosting its market cap to 203 billion euros versus 189 billion for BP Amoco, showing that mobile Internet is where investors see the future. (No wonder Microsoft president Steve Ballmer last year publicly criticized the high valuations of some new technology companies; without such massive investment, Linux probably would pose little threat to the software giant. TSMC becomes market cap leader, beating out gigantic companies like Samsung, NVIDIA, AMD and others with $306 billion market cap. Founded in 1985, the company went public … Period.
That is more than 10 times as much as someone who bought Microsoft the day it went public in 1986 would have had after the same amount of time.The Nasdaq composite index leaped 85.6 percent -- a performance that exceeded the gain for any major index in any year in the history of stock markets in the United States. Free real-time prices and the UK's most active stock market forums.
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