Drops of 20-40% in the year reflect structural vulnerability, not just technical correction.
The dynamics have changed: AI agents are replacing entire products, not just assisting processes.
When execution has a marginal cost close to zero, the value captured by intermediaries evaporates.
The market is separating companies with real defensibility from those that were merely interface layers over automatable processes.
Some of these tickers have value even with AI. I think it’s an over correction
ADBE
ACN
ADSK
FIG
Are a few