---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42428919.md"
description: "$NVIDIA(NVDA.US)$Micron Tech(MU.US)$XL2CSOPHYNIX(07709.HK)$Alphabet - C(GOOG.US)$Microsoft(MSFT.US)I used a large model to compare the current AI industry with the situation during the 2000 internet bubble.The conclusion is that the current period is equivalent to 1997-1998 in the internet era, far from the time when the AI bubble is about to burst.The reason is also simple: the current situation is identical to 1997-1998 in terms of performance-driven stock prices. When the internet bubble burst, stock prices were already driven by sentiment. For example, the P/E ratios of companies making switches and routers (equivalent to current storage) generally did not exceed 50x in 1997-1998, and stock prices couldn't keep up with earnings growth. By 1999-2000, P/E ratios had reached 200-300x. At that time, sentiment drove up stock prices, and people no longer looked at P/E ratios, but at price-to-sales ratios or even click-through rates!"
datetime: "2026-07-06T00:47:17.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42428919.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42428919.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42428919.md)
author: "[UncleK](https://longbridge.com/en/profiles/11622978.md)"
---

# $NVIDIA(NVDA.US)$Micron Tech(MU.US)$XL2CSOPHYNIX(0…


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