Shares in Nvidia, Intel and Google are fueling excitement on Wall Street that strongly resembles the speculative internet bubble of the late 1990s. Analysts note clear signs of dangerous euphoria among investors, where caution appears to have vanished. The parallel with the era when stock valuations reached unjustified highs is striking to the most experienced observers. Only time will tell whether we have returned to 1998, 1999 or 2000, the three phases of that historic bubble.
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