Strategists at Goldman Sachs noted that despite market sell-offs driven by concerns over AI disruption, analysts have raised profit forecasts for software stocks. A team led by Ben Snider stated in a report that forward-looking earnings expectations for software stocks over the next two years have increased by 5% over the past three months. They pointed out that industries perceived as facing the most significant threats from artificial intelligence have not only seen upward revisions to their 2026 earnings per share estimates but also delivered double-digit profit growth in the fourth quarter. Snider commented, "Despite investor anxiety in recent weeks about the disruptive potential of AI, software stocks at the heart of these concerns have largely reported better-than-expected earnings, prompting analysts to raise future profit estimates."

In recent weeks, so-called "AI panic trading" has spread to numerous sectors, including financial services and logistics, as investors strive to assess the technology's impact on business models. A basket of U.S. stocks compiled by UBS, representing companies potentially affected by AI, has fallen 50% over the past year. Nevertheless, Goldman strategists highlighted that core industries facing near-term disruption risks have generally demonstrated solid earnings and upward revisions to expectations. Snider wrote in the report, "Despite strong short-term performance, investors continue to debate the potential long-term impact of AI on profitability."