Despite an ongoing pandemic and the U.S. economy barely limping along, the Nasdaq is trading at all-time highs and is now more than 12% above its pre-outbreak peak. The surge in tech stocks in 2020 has understandably led investors to draw comparisons to the dot-com bubble in 2000.

The Nasdaq ultimately peaked at 5,048.62 on March 10, 2000. Of course, some dot-com bubble stocks have performed much better than others in the 20 years since the bubble burst.

Apple’s Dot Com Bubble Rebound: Apple’s past 20 years were defined by two major trends. Apple launched the iPhone in 2007, which ultimately became the most successful product in the history of the economy. When iPhone sales growth began to slow down, Apple made a massive pivot to a recurring services model, a transition that is still ongoing to this day.

Apple recently announced a four-for-one stock split that will be completed on Aug. 31. But prior to the 2020 split, Apple underwent a two-for-one split in June 2000, a two-for-one split in February 2005 and a seven-for-one split in June 2014.

See Also: 5 Ways Today's Market Resembles The Dot-Com Bubble

Apple’s high watermark of the dot-com bubble was $150.38 back in 2000. When the bubble burst, Apple traded all the way back down to $13.36 in 2002.

It took Apple roughly five years to regain all the value it lost following the bursting of the bubble, but the stock made it back to new highs by 2005. From that point forward, there was no looking back.

Apple shares peaked at $202.96 prior to the 2008 financial crisis, but only dropped as low as $79.14 during crisis sell-off. Incredibly, Apple was back making new highs again before the end of 2009.

Patient Investors Rewarded: Apple ultimately peaked at $705.07 in 2012 prior to its most recent stock split.

Apple investors who bought at the dot-com bubble peak had to wait five years to turn a profit on their initial investments. But those that held on to this day have done just fine.

In fact, $1,000 invested in Apple stock at the dot-com bubble peak would be worth about $118,000 today, assuming reinvested dividends.