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  • The Boston Globe OnlineBoston.com Boston Globe Online / Business / Globe 100
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    3. EMC Corp.

    By Kimberly Blanton, Globe Staff, 05/18/99

    t was no small feat to outperform EMC's stock in 1998: The Hopkinton-based company had one of the highest-flying stocks, more than tripling in price in a single year.

    Only two Massachusetts company stocks did better last year. Not surprisingly, both were in the sizzling Internet industry: CMGI Inc., an investment fund that backs Internet companies, and one of the companies in which CMGI invested, search engine Lycos Inc.

    Analysts are ranking EMC among the top computer companies, with Dell Computer Corp., Cisco Systems, and Intel Corp. As Internet use is expected to grow astronomically, demand for EMC's software and hardware for storing data is also expected to increase, said EMC spokesman Mark Fredrickson.

    EMC was the second-best performer, after Dell, among stocks in the Standard & Poor's 500 stock index last year, he said.

    After a stock split at the end of 1997, EMC's stock started calendar year 1998 at 273/4 a share. It finished 1998 closing at 85 a share and is currently trading higher. From March 31, 1998, to March 31, 1999, the time frame used to rank The Globe 100 bulls, EMC's stock more than tripled, from 3713/16 to 1273/4.

    The stock price has risen along with revenues, which are growing 30 percent, on average, annually. EMC's 1998 profits were $793 million on revenues of $3.97 billion.

    This story ran on page D19 of the Boston Globe on 05/18/99.
    © Copyright 1999 Globe Newspaper Company.

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