Tony, OT CSCO
Somebody sent me the following in an email, so I don't have a link. If you had told me Cisco stock would be up $5 today, post split, I would have bet the farm against it. And I think you are right, folks see CSCO for only $70+ and they just have to buy, regardless of valuation. Doesn't make sense, but I sure am enjoying the ride.
Cisco Briefly Tops Microsoft in Value
PALO ALTO, Calif. (Reuters) - Cisco Systems Inc., the world's biggest
maker of equipment that powers the Internet, on
Thursday briefly topped computer software giant Microsoft Corp. as the
world's most valuable company.
The two companies are now locked in a dead heat for maintaining that
title on an ongoing basis, but the trend is clearly in place.
Shares of Microsoft (NasdaqNM:MSFT - news) are little changed from
their August levels while shares of Cisco have surged.
Based on its intraday trading high, San Jose, Calif.-based Cisco
(NasdaqNM:CSCO - news) had a stock market value of
$575.93 billion on 7.296 billion shares outstanding and a stock price
of 78 15/16. Cisco split its stock on a 2-for-1 basis on
Thursday.
Microsoft's market capitalization, based on its intraday high of 111
1/8 and 5.177 billion shares outstanding, was $575.29 billion.
The difference in stock market values between the two firms was a scant
$640 million, or 0.11 percent.
Microsoft, along with chipmaker Intel Corp., were largely responsible
for driving the personal computer age and clearly the PC
isn't going away. There are about 120 million PCs in the world, and the
market is still strong.
But with the explosion of the World Wide Web and the Internet beginning
in 1993, companies such as Cisco, Yahoo! Inc. and
others have seen their stocks soar as companies, consumers and
governments worldwide seek to modernize their networks and
operations using the global network. |
