Broad Range Of Public Tech Firms Trade For Record Prices

GNN Ads

#GNN Tech - All the talk of a bubble isn’t slowing down public interest in technology shares. Today, Apple, TubeMogul and Arista Networks set new record highs. TubeMogul and Arista both recently went public.

Other firms, like Microsoft are trading near local maximums. MobileIron set an all-time high yesterday, managed a new intra-day high today, and is up strongly in the past few trading sessions. Facebook is toying with the $75 price per-share range, a record performance.

That we’re seeing companies head public is therefore not surprising. Companies that are losing monday on a GAAP, and non-GAAP basis are looking to raise hundreds of millions from investors — LendingClub filed to raise $500 million today, Box wants $250 million and so forth.

The buoyancy, of course, extends outside of the technology industry. The S&P 500 closed at another record today, implying that a broader set of industries’ stocks are doing quite well.

There are notable exceptions. Twitter remains far under its 52-week high. King Digital has taken a beating in recent days. But the larger market for tech stocks appears healthy.

At least for now, the IPO window looks open, and Silicon Valley is sunny.

IMAGE BY FLICKR USER ANTONIO MORALES GARCÍA UNDER CC BY-SA 2.0 LICENSE (IMAGE HAS BEEN MODIFIED)