(Bloomberg) -- AI fear is running amok in the US equity market. For stock pickers, now might be the time to get greedy.

That’s what a growing number of Wall Street pros are saying as they survey the wreckage from a series of rolling selloffs tied to AI yips. Yes, artificial intelligence is likely to disrupt companies and put some of them out of business. But there’s little chance, the thinking goes, that wealth managers or real estate agents or insurance brokerages or logistics firms cease to exist entirely.

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And therein lies the opportunity, the traders say. When a new AI tool threatens to upset an industry, investors are simply selling the whole group. Take logistics, a segment that sank almost 7% Thursday on just such a report. All 17 companies in the Russell 3000 Trucking index declined, with more than half off at least 5%. A day later, all but four stocks were higher as the group recouped half its drop.

A similar whiplash has hit a handful of other industries in recent weeks in a market that’s increasingly primed to react to even the smallest signal of displacement risk. Money managers and analysts say the indiscriminate nature of the selling proves it’s disconnected from fundamentals, and presents a chance to buy.

“We’re having a shakeout, but it’s a good buying opportunity,” said Gina Bolvin Bernarduci, president at Bolvin Wealth Management Group, who says she’s snapping up tech shares after valuations for the group have retreated. “There’s going to be winners and losers, just like the dot-com era.”

Of course, picking those winners is a lot easier said than done, especially when it comes to a technology still in its infancy. But by any reasonable measure, the selling appears overdone. There have, so far, not been any notable changes in earnings outlooks, adoption timelines or capital spending plans tied directly to AI deployment. Instead, the rout has been a narrative-driven trade that has overwhelmed fundamentals.

Software firms, for example, were one of the first and hardest hit industries under the new market psychology. But the group has seen its earnings per share forecasts for 2026 improving faster than those for the market as a whole. In fact, most of the groups recently pummeled are expected to see their earnings grow by at least a high-single-digit percentage this year, data compiled by Bloomberg Intelligence show.

“When you see things that appear this totally irrational, it makes you want to buy,” said Jonathan Golub, chief equity strategist at Seaport Global Holdings LLC. “If there was differentiation, you would say, ‘I’m going to buy Microsoft Corp. or Oracle Corp. or Salesforce Inc.,’ but when they’re all thrown out and moving almost identically with no discrimination, it makes you want to buy the group.”

The shift to targeting companies that will get run over by artificial intelligence happened quickly, marking a reversal from just weeks ago when investors were fretting that Big Tech was spending too much on an unproven technology. Instead of worrying that AI will have no practical uses, investors are concerned that it is sophisticated enough to threaten business models beyond the traditional tech sphere. The sentiment whiplash has befuddled some.

“What I find amusing is that the first short thesis was that there were no applications for AI, and now the short thesis is that it’s going to take over everything — it’s completely irrational,” said Jay Hatfield, the CEO of Infrastructure Capital Advisors. “It’s creating opportunities. I would just say it’s a short period of complete market irrationality, and then usually there’s going to be some sort of reality check: earnings is one of them.”

Investors will have to wait two months for first-quarter earnings to roll in and validate or disprove that thesis. In the meantime, many are bracing for more turbulence as new AI tools appear.

“There’s going to be an end to this, and I would say that the end is closer than most people think. AI disruption, I think is a bit bombastic, quite frankly,” said Brian Belski, founder and chief investment officer of Humilis Investment Strategies. “This is not a formula or playbook-driven market — this is a stock picking market, and you just have to be right.”

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