What neither chip maker wants to admit is that from 1993 to 2006 what we had was a BUBBLE, no different than the real estate or dotbomb bubbles.
That's because it's total horseshit.
In 1993 we had what a 486 at 60MHz or something? In 2006 we were up to the Core 2 processors which were several thousand times faster. It's not a bubble because it never burst. We still get to keep our Core 2 duo processors and they're every bit as fast. And the newer processors have been faster or cheaper or lower power and frequently two or even three out of three.
Whereas in the other bubbles, stuff got expensive then it crashed and the same stuff got cheap again. The only value was the money and people left with the stuff turned cheap had nothing.