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Nasdaq 5,000! This Time Its Really Different…
Andre Sealy: Speaking of happy days being here again, you can’t help but notice the overwhelming amount of excitement about the NASDAQ exchange closing above 5,000.
Sure, it’s been 15 long years, and a lot has changed since then. A couple of the companies that once comprised the NASDAQ are no longer listed under it. PE ratios are near sustainable levels, despite being overbought. And whether or not the Index is suffering from a tech bubble is debatable.
Whether or not the index has reached these levels based on market fundamentals can be determined a number of ways. One thing I can say that is different are the levels these stocks were trading at before and after the market bottomed out. This can be done by looking at the veterans (or survivors) of the Dot Com Crash. Mostly tech mega/large cap tech companies…
Analog Devices. IPO Year: N/A. Last Stock Split: 03/16/2000
Applied Materials. IPO Year: 1972. Last Stock Split: 04/17/2002
Broadcom Corp. IPO Year: 1998. Last Stock Split: 02/22/2006
CA Inc. IPO Year: N/A. Last Stock Split: 11/28/1997
Cisco Systems. IPO Year: 1990. Last Stock Split: 03/23/2000
Citrix Systems. IPO Year: 1995. Last Stock Split: 02/17/2000
Linear Technology Corp. IPO Year: 1986. Last Stock Split: 03/27/2000
Microsoft Corp. IPO Year: 1986. Last Stock Split: 02/18/2003
Maxim Integrated Products. IPO Year: 1988. Last Stock Split: 12/22/1999
Xilinx Inc. IPO Year: 1991. Last Stock Split: 12/28/1999
Yahoo Inc. IPO Year: 1996. Last Stock Split: 05/12/2004
I include the last stock split that occurred because there are times when the number of outstanding shares increase (and sometimes decrease with reverse stock splits).
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Source: http://marketdailynews.com/2015/03/05/nasdaq-5000-this-time-its-really-different/
