The speculative boom whose collapse drove the 2000–2002 technology-stock crash was the dot-com bubble.
During the late 1990s, investors poured money into internet-related companies, often valuing businesses on expected future growth rather than established profits. Many firms adopted “.com” names and raised capital despite limited revenue or unclear paths to profitability.
The Nasdaq Composite reached a record closing level of 5,048.62 on March 10, 2000. After that peak, technology shares fell sharply as investors became less willing to pay extreme prices and many companies failed to meet expectations.
The crash did not mean that the internet lacked economic value. Companies such as Amazon and eBay survived and later expanded, while many other startups disappeared. The term describes the bubble and its collapse, not every technology company of the period.