It’s taken Cisco 25 years to recover dot-com-era stock losses. Now it’s an AI-bubble cautionary tale.

It’s taken Cisco 25 years to recover dot-com-era stock losses. Now it’s an AI-bubble cautionary tale.

By Joe Ciolli
Publication Date: 2025-11-17 13:06:00

Things that have happened since March 2000:

  • The US has had five presidents
  • The iPhone launched and took over our lives
  • Music streaming rendered CD and record collections moot
  • Taylor Swift became the most famous entertainer on the planet
  • Electric vehicles were invented, then went through an entire boom-and-bust cycle

Things that have not happened since then:

  • Cisco recovering its 85% dot-com-era stock crash

That’s right, the former tech kingpin still has not surpassed its all-time high of $80.06, reached on March 27, 2000. That was during a stretch that saw Cisco very briefly dethrone Microsoft as the world’s most valuable company. ItThe company was the dominant manufacturer of the routers that powered the internet revolution. Life was good.

It was from that level that Cisco’s stock plummeted more than 85% as the dot-com bubble burst. While the company did make it out the other side of the crash, shares were severely wounded, and limped sideways for much of the…