Despite an ongoing pandemic and the U.S. economy barely limping along, the Nasdaq is still trading more than 60% above its March lows. The surge in tech stocks in 2020 has understandably led investors to draw comparisons to the dot-com bubble in 2000.
The Nasdaq ultimately peaked at 5,048.62 on March 10, 2000. Of course, some dot-com bubble stocks have performed much better than others in the 20 years since the bubble burst.
AMD) had major difficulty returning to its dot-com bubble levels.
AMD actually went public in 1972, more than two decades before the dot-com bubble started to inflate. At the time, the company was generating just $100 million in revenue annually. AMD IPO investors likely never could have foreseen the rise of the internet, smartphones, cloud computing and many of the other tailwinds that have boosted AMD stock in the past 20 years.
INTC) in the 1980s and 1990s and later NVIDIA Corporation (NASDAQ: NVDA) after a buyout of GPU maker ATI in 2006.
AMD’s share price hit $3.10 in late 2002 before rebounding to a pre-financial crisis high of $42.70 in 2006. During the sell-off in 2009, AMD shares dropped as low as $1.62. AMD only made it back to as high as $10.24 in 2010 before taking a bearish turn once again. The stock ultimately hit its low point of the 21st century at $1.61 in 2015.
AMD has rallied hard in the past five years as it has gained server market share from Intel. However, AMD only made it back to its split-adjusted dot-com bubble peak of $48.50 for the first time on the first trading day of 2020.
AMD investors who bought at the dot-com bubble peak had to wait roughly 20 years to get back to even. Those that held on to this day lagged the overall market significantly for most of the past two decades.
Fortunately, after a big 2020 rally, $1,000 invested in AMD stock at the dot-com bubble peak would be worth about $3,006 today.
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