“One difference between the tech giants of the dot-com era and tech giants now?” Justin Lahart writes for The Wall Street Journal. “Today’s juggernauts really are massive, and not just in the eyes of exuberant investors.”
“That doesn’t mean they don’t present risks,” Lahart writes. “When the dot-com bubble reached its apex on March 10, 2000, the prices put on that era’s major tech companies made them simply too big to ignore. Microsoft, Cisco, Intel and Oracle — a group that earned the moniker ‘the four horsemen’ (with Dell Computer sometimes taking Oracle’s place) — accounted for about 13.9% of the S&P 500’s market capitalization.”
“Among those old favorites, only one — Microsoft is worth more today, having recently reclaimed the No. 1 slot,” Lahart writes. “It is closely followed by Apple, Amazon and Google parent Alphabet. Together, the stablemates account for about 13.5% of the S&P 500’s market value—not far from the old horsemen’s historic share. Today’s versions have a lot more economic clout, though. ”
Read more in the full article here.
MacDailyNews Take: Whenever Microsoft is valued higher than Apple, as it is slightly today, you know the market lacks even basic understanding of the two companies. ‘Tis Apple’s lot in life to be underestimated, undervalued, and under appreciated at least as much as Microsoft is overestimated, overvalued, and over appreciated.
On that note, let us drown our disgust with fermented libations! Interns, tap that keg!
Hoist! May the market someday wake up, understand Apple for a chance, and properly value the company! Cheers, everyone!