New York City’s Goldman Sachs & Co has established a new set of technology equity indexes and a composite Goldman Sachs Technology Index, or GSTI, featuring 176 stocks. The stocks are divided into hardware, software, services, semiconductors, multimedia networking and Internet. The companies all have a market capitalization of at least $600m as of the end of April and are traded on either the New York Stock Exchange, American Stock Exchange or Nasdaq with at least 20% of the stock floated. The Internet index includes hardware and software and service providers, including Sun Microsystems Inc, Cisco Systems Inc, UUNet technologies Inc, US Robotics Corp and of course, Netscape Communications Corp. The nine companies that make up the Internet group are said to have out-performed the composite index by more than 600%, such is the way of things at the moment.
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