Is the AI stock market boom in 1998 — or are we already in 2000?
IBM stock has just crashed around 25% after its latest results. I bought it.
In this stock market update, I explain why I still believe the AI trade has further to run, why the current market feels more like mid dotcom boom than the final dotcom bubble, and why IBM may remain an important part of the artificial intelligence infrastructure story.
The central question for every investor is simple:
Are AI stocks at the end of the bubble — or are Nvidia, IBM and the wider AI value chain still in the middle of a much bigger investment cycle?
I also look at:
• Why I bought IBM after the stock price collapse
• The AI stock market outlook for July 2026
• Whether this is 1997–1998 or the dotcom crash of 2000
• Buying the dip after a earnings fall
• The prospects for an IBM dead-cat bounce
• Why missed profits are not investment losses
• The psychological trap of trying to time every market top and bottom
• Nvidia, Apple and Amazon — and the fortunes investors never made
• Why AI infrastructure stocks could have years of growth ahead
• What would make me change my bullish AI investment thesis
• The risks from geopolitics, market volatility and another sudden sell-off
