SANTA CLARA, Calif.–(BUSINESS WIRE)–Nov. 13, 2003–High-tech companies attending the AeA Classic Financial Conference last week saw their stock prices rise an average of 8 percent as executives metwith investors November 2-5 at the 33rd annual AeA Classic held in San Diego, Calif. During the same time period (calculated from market close Friday, October 31, to market close November 6), the DowJones Industrial Average and the S&P 500 were flat and the NASDAQ was up 1 percent.
The 20 top-performing companies at the Classic had their stock prices go up an average of 25 percent and the top 50 companies averaged a 20 percent increase between October 31 and November 6. Overall, the 180 companies presenting increased their market value by 8 percent on average during the AeA Classic.
The four-day conference was divided into two sessions, the first for companies with market capitalization or revenue over $300 million and the second for those between $100 and $300 million market cap or revenue.
“The Classic has always been a true leading indicator,” said William T. Archey, AeA president and CEO. “The past two years have been particularly somber and it reflected the mood of the industry. This year, it was noticeably upbeat and our companies were particularly optimistic about the economy in general and high-tech specifically. The level of representation from the investment community, 800+ attendees, was the highest since 2000 and the ‘buzz’ was definitely back. This is a good sign for the high-tech industry.”
The investors seemed to agree:
“I would say this is the best conference in the country. It integrates the buy side and sell side and draws a diverse number of money managers, bankers and analysts,” said AeA Classic veteran and hedge fund manager Mort Cohen of Clarion Partners.
The diversity of AeA’s membership was evident at the AeA Classic. Presenting companies represented the spectrum of high technology; from Internet, wireless, security and defense technologies to software, semiconductor, computer and medical device manufacturing.
O’Neil data systems based in Los Angeles, Calif., conducted all data analysis for this news piece.
Advancing the business of technology, AeA is the nation’s largest high-tech trade association. AeA’s more than 3,000 member companies span the high-technology spectrum, from software, semiconductors and computers to Internet technology, advanced electronics and telecommunications systems and services. With 17 regional U.S. councils and offices in Brussels and Beijing, AeA offers a unique global policy grassroots capability and a wide portfolio of valuable business services and products for the high-tech industry. AeA has been the accepted voice of the U.S. technology community since 1943. Please visit www.aeanet.org for more information.
