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CNET News.com: Cisco ascends to most valuable company [edging out MS]

Mar 28, 2000, 01:12 (0 Talkback[s])
(Other stories by Wylie Wong)

"Networking giant Cisco Systems surpassed Microsoft today as the most valuable company in the world."

"Cisco's shares today inched up 69 cents to close at $80.06, giving the network equipment maker a market value of $555.4 billion. Microsoft today closed with a value of $541.6 billion, its stock falling $7.63 to $104.06, as speculation mounted that the giant software maker would settle its antitrust suit with the Department of Justice. "We're pleased about this, but the market fluctuates and things could change," said Cisco chief financial officer Larry Carter, whose company has been public for 10 years."

"Last Friday, some media outlets reported that Cisco beat Microsoft in value based on "diluted shares," which includes employees' stock options that have not been exercised and are not available to the general public. Cisco was worth $579.1 billion to Microsoft's $578.2 billion using diluted shares to make the calculation. But under basic shares, Cisco remained about $30 billion behind Microsoft, closing with a value of $550.7 billion compared to Microsoft's $581.3 billion. Now the basic share calculation puts Cisco in the lead."

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