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Dot-Com Nightmare Is Over as Nasdaq Retakes Record Lost in 2000

The Nasdaq Composite Index needed 31 months to plunge 78 percent after the Internet bubble burst in 2000. Climbing out of the hole took more than 12 years.

Led by a 132-fold increase in Apple Inc. and a 13-fold jump in Google Inc., stocks in the gauge on Thursday cleared the record 5,048 threshold that taunted investors for 15 years as a symbol of dot-com excess. The Nasdaq has advanced more than 350 percent since bottoming in October 2002 after the slump erased about $6 trillion from American equity prices.