Bitcoin, Schmitcoin — Tech Stocks Also on a Frothy Run
While the stock market was only open a half-day today, it was still a solid one for Internet stocks as the market enters its final month of 2013.
Most showed gains yesterday, with Apple, Amazon and Twitter all up almost two percent.
But that does not tell the story of how well shares of tech companies have been doing throughout the year — most are up significantly, seeing big jumps. For the year-to-date, most well-known issues are up, including:
LinkedIn, up more that 95 percent; Facebook, up over 76.5 percent; Yahoo, up 83 percent; Amazon, up 57 percent; Google, up close to 50 percent; and even perpetually stagnant Microsoft, up close to 43 percent. Apple lagged, up only 4.5 percent, and Twitter remains below its November IPO price, down 7.4 percent. Even suffering Groupon and Zynga did well, up more than 86 percent and 84 percent respectively.
The past three months have not been as strong, though, with Amazon leading the pack with a 38.6 percent rise. It was followed by Yahoo, up 35.3 percent; Google, up close to 34 percent; Facebook and Microsoft, up close to 14 percent; and Apple, up just over 13 percent. LinkedIn declined just over seven percent in the period, not a surprise, given its spectacular rise since it went public in mid-2011.
What the rest of the year and 2014 will bring is anyone’s guess, of course, but there are expected to be a spate of IPOs in the first half of the new year, most notably China’s Alibaba Group, whose stellar performance should continue to boost Yahoo’s stock.