Seems like a long time ago, doesn’t it?
Four years after the Nasdaq hit its peak amid a frenzy for technology stocks, many of the index’s top companies have seen their value drop 50 percent or more.
On March 10, 2000, the technology-packed Nasdaq Composite index hit its all-time intraday high of 5,132.52 and its lifetime closing high of 5,048.62. It was the peak of the tech bubble when investors bid up prices of Internet and other technology shares to heady levels that ultimately could not be maintained.
Today the Nasdaq closed at 1964, down 60%. Some of the period’s big movers:
The four biggest Nasdaq companies at the peak of the tech bubble were Microsoft Corp., Cisco Systems Inc., Intel Corp. and Oracle Corp. . They have seen their market caps fall a combined total of nearly $1 trillion since 2000.
Other high-flying tech stocks which saw their values soar during the boom have lost 90 percent or more since the bubble burst. Among these Sun Microsystems Inc. lost 91.3 percent while JDS Uniphase Corp. lost 93.1 percent, Reuters Research said.