Semiconductor stocks continued to power higher Tuesday, with MarketWatch highlighting that the PHLX Semiconductor Index (SOX) was on pace for its strongest 25-day rolling performance since March 9, 2000.

According to the report, the index has climbed more than 50% over the past 25 trading days. The last time that kind of acceleration appeared, it coincided with the final stage of the dot-com era—one day before the Nasdaq Composite hit its peak closing level in 2000, followed by a multiyear drawdown.

The comparison doesn’t guarantee history will repeat, but it adds context for investors weighing whether today’s rally reflects durable earnings growth, AI-driven demand and capital spending—or whether positioning and momentum have pushed valuations to vulnerable levels.

In the near term, traders will likely focus on guidance from major chipmakers, data center demand signals, and any shifts in rates expectations that can compress or expand multiples for high-growth sectors.