\n<\/p>\n
Intel (INTC) is partying like it\u2019s 2000.<\/p>\n
The storied US chipmaker is pushing to fresh highs one day after punching through its first record since August 2000 \u2014 a two-and-a-half-decade round trip that turns one of the AI market\u2019s hottest comeback stories into a cautionary tale.<\/p>\n
The lesson is that even an iconic technology stock can spend a generation repairing the damage from one bad entry point.<\/p>\n
Yahoo Finance Executive Editor Brian Sozzi flagged a Deutsche Bank note calling Intel\u2019s surge \u201ca potent lesson for investors,\u201d with the bank noting that Intel was the second-largest stock by market value at its 2000 peak.<\/p>\n
Deutsche Bank also pointed out the brutal opportunity cost: Over the same stretch, the S&P 500 (^GSPC) climbed roughly 370%, or more than 650% with dividends reinvested.<\/p>\n
Intel is not an isolated case.<\/p>\n
Across the chip industry \u2014 from semiconductor designers and manufacturers to the companies that make, test, package, and supply semiconductors \u2014 the dot-com peak left a long shadow.<\/p>\n
Some stocks eventually broke free and kept compounding. Others only recently reclaimed their old highs. And some are still below the levels investors paid more than 25 years ago.<\/p>\n
| \n Status<\/strong><\/p>\n<\/td>\n Examples<\/strong><\/p>\n<\/td>\n What happened<\/strong><\/p>\n<\/td>\n<\/tr>\n Finally reclaimed the dot-com high<\/p>\n<\/td>\n Intel (INTC), Cisco (CSCO), AXT (AXTI), Rambus (RMBS), Amkor (AMKR), Photronics (PLAB)<\/p>\n<\/td>\n These stocks took roughly a quarter-century to clear their 2000 peaks, turning a once-hot entry point into decades of dead money.<\/p>\n<\/td>\n<\/tr>\n Still below the dot-com high<\/p>\n<\/td>\n Tower Semiconductor (TSEM), Veeco (VECO), Vishay (VSH), STMicroelectronics (STM), Cohu (COHU), Skyworks (SWKS)<\/p>\n<\/td>\n More than 25 years later, these stocks still have not fully repaired the bubble-era damage.<\/p>\n<\/td>\n<\/tr>\n Broke out and kept compounding<\/p>\n<\/td>\n Taiwan Semiconductor (TSM), Applied Materials (AMAT), AMD (AMD), Micron (MU), Analog Devices (ADI), Texas Instruments (TXN), Teradyne (TER)<\/p>\n<\/td>\n These are the survivors that eventually turned old resistance into a launchpad \u2014 but only after years or decades of repair.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n Even that table understates the damage.<\/p>\n It only includes companies that survived long enough to still be tracked, creating survivorship bias. The companies that disappeared, merged away, or faded into irrelevance would make the lesson harsher.<\/p>\n But the winners are real.<\/p>\n Taiwan Semiconductor (TSM) is up more than 1,000% from its 2000 peak, while Applied Materials (AMAT) and AMD (AMD) are each up more than 600%. Micron (MU), Teradyne (TER), Analog Devices (ADI), and Texas Instruments (TXN) also moved well beyond their dot-com highs, with gains ranging from 177% to 410%.<\/p>\n<\/p><\/div>\n |