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This article was written in 1997. In 1999 Qualcomm stock went up 26 times (2600%). If he were still at Qualcomm (Edit: Wikipedia reports that he was with Qualco
by fspeech 11y ago
This article was written in 1997. In 1999 Qualcomm stock went up 26 times (2600%). If he were still at Qualcomm (Edit: Wikipedia reports that he was with Qualcomm till at least 2006)... Back then companies were still generous with options and principal engineer at Qualcomm was quite senior.
- porsupah 11y agoAnd quite bloated! A friend was with them in 1997, and left, simply out of having to spend more than half their time - literally - in meetings. The money was absolutely not a problem, nor the projects - they simply couldn't spend their time programming.
- deleted 11y ago[deleted]
- jlarocco 11y agoThat's a little misleading. Every tech stock in the world sky rocketed in 1999, and then they all tanked. Qualcomm topped out at $88 a share in 1999, and was under $14 in 2002. Still up 3.8x, but nowhere near 26. It's increased since then, but even right now it's only $48.
- lallysingh 11y agoYou don't have to wait until retirement to sell shares.
- jlarocco 11y agoObviously. People also don't typically sell shares right at the top of a bubble, either. Look at the graph on Yahoo. The shares were $88 for like a day. Very unlikely he made 26x.