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The 5 FANG Stocks of the Dotcom Era — and Where They Are Now

It only took 17 years, but U.S. tech stocks finally broke their dot-com bubble high by one significant measure.

On Wednesday, the S&P 500's Information Technology sector closed at 992.29, which marks a new lifetime high since its previous record of 988.49, set during the height of the dot-com bubble in March 2000. Tech stocks have vastly outperformed the S&P 500's other 10 sectors so far this year, having gained 22.3% so far, according to the S&P website. Chip names such as Nvidia Corp. ( NVDA) , Advanced Micro Devices Inc. ( AMD) and Micron Technology Inc. ( MU) have helped drive the surge.

Much has changed in the market since the dot-com bubble. Back then, the world wide web had just been born, leading to a ton of speculative investments in internet companies and a years-long rally in tech stocks. Things abruptly turned sour, however, when many of those shiny new internet companies flopped or came close to failure, spurring a major selloff. Many leading technology companies shed 40% to 50% of their value in less than a month. Shares of Inc. ( AMZN) , now worth more than $1,000 a piece, plummeted from $107 to as low as $6 a share.

A new class of tech titans has formed since the dot-com collapse, including Facebook Inc. (FB) , Apple Inc. (AAPL) , Amazon, Microsoft Inc. (MSFT) and Alphabet Inc./Google (GOOGL) -- also known as the "FAAMG" stocks, a riff on the initial...