Microsoft Corporation

[Wildreamz]

I'm not sure if you were in the market during dot coms but nobody really mention Microsoft or Intel or even Dell as dotcom names. Even Softbank, Cisco, US Robotics, SUN (Java) was a dotcom name. Not even mentioning those "real" dotcoms like Webvan or Pets or Tom.com etc. If you just looking at PE then a rising tide raise all ships why is that surprising

The valuation even in Nov 2021 is frankly uncomparable to crazy dot com in my view, primarily because this time round it's mainly the millenials into Crypto and meme stocks (daytrading) and PE are drawn in. It's not as systematic like say housing bubble in US.

So when we look back again in 2040 I'm sure we can also say Microsoft, Intel or Dell was not a FAANG stock

You are splitting hairs over subjective matters such as whether you need a "dotcom" in your name or business model, or being "talked about", to be considered a so-called "dotcom" (ie bubble) stock during the dotcom bubble.

In my opinion, what's most important is the valuation, and the amount of money flowing into it, during that time period, that is of the most importance. People remember the crash in Nasdaq that took decades to recover to the peak; most of it is large cap companies. 

So-called "dotcom bubble" if you break it down into absolute dollar amount, which companies lost the most market value and investor dollars; then Microsoft (together with Cisco, Sun, Oracle etc) can definitely be considered one of the poster-child of that era. In dollar amounts, the Pets.com can certainly be considered a side-show.

And despite this (and Ballmer's mismanagement), long term investors in Microsoft investors has done well. Interesting.