Dot-Com Bubble 2.0?

More I read about high stock prices in 2017, more I pounce on phrase "dot-com bubble". Some reporters are saying we have "dot-com bubble 2.0" or maybe "tech bubble".... Well, we have lot of bubbles :)

U.S. technology stocks has just surpassed its dot-com bubble high.

The performance of the U.S. stock market is more dependent on technology companies than at any time in more than 15 years. Investors are willing to pay more to own these shares. And many of them have crowded into the same handful of big tech companies such as Amazon.com Inc. and Google parent company Alphabet Inc.

As I see Citigroup make a $300 per share bull case for Nvidia (NVDA) and Baird make a case for Tesla Motors (TSLA) deserving to trade at $566 in a "blue-sky" scenario, I can't help but think about a famous Qualcomm (QCOM) call made by an analyst towards the end of 1999, as the euphoria of the Dot-com bubble hit a fever pitch.

BUT...

It's Not 1999 - Tech stocks trade at about a 20% premium to the overall market, but the gap is nowhere near what it was in the internet bubble days, when stocks traded at about a 100-300% premium to the overall market