Silicon Valley Has an Up Year
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Silicon Valley Has an Up Year
By Tom Foremski
It’s taken a decade but Silicon Valley companies have climbed out of dotcom dotbomb recession and reported their most profitable year in history.
The San Jose Mercury News reports that 2010 was a banner year for the 150 largest Silicon Valley companies.
“We’re really seeing some inflection points,” or pivotal changes, “in the tech industry,” said John Walsh, a managing partner in the Silicon Valley office of Accenture… As examples, he said the growing popularity of social media, mobile gadgets and cloud computing…are changing how people use technology.
The combined stock market value of the SV150 hit $1.55 trillion on March 31, up 11.4 percent from a year earlier. That’s despite sharp declines in share prices of two valley giants, Hewlett-Packard (HPQ) and Cisco Systems (CSCO).
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