With all the talk about excessive valuation in tech stocks--or the sector at large--well known Internet analyst Mary Meeker says any comparison to 1999 is overstated.
While she acknowledged that "there is certainly some valuation excess " is some areas, the froth is all and all far below the levels during the tech bubble of the late 1990s.
For one, dollar volume in tech IPOs today is 73% below what is was in 1999, she said.
Venture capital money is also 77% below what it was then.
Lastly, and perhaps most importantly from a market perspective, tech stocks are about 19% of the S&P 500 today, versus 35% at the peak of the bubble.
(Meeker's full slideshow, which dealt with much more than just tech stocks, can be seen here.)
Meeker--now a partner at Kleiner Perkins--made her comments at the tech-heavy Code Conference in Rancho Palos Verdes California
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