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U.S. averages have surpassed previous highs, another indication that the market is far from where it was back then.
At the end of 1999, 8 out of 10 of the most highly valued stocks were tech companies, led by Yahoo trading at almost 577 times projected 2000 earnings, according to S&P Dow Jones Indices. Fellow dotcom-era corporations America Online and Cisco Systems Inc – the latter prized because it dominated the market for networking equipment that enabled internet connections – clocked in at 223 times and 102 times, respectively.
Posted in: Indian Market Tips
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