This IGV selloff is getting ridiculously extended to the downside

As I write this we are in a sizable crash of about 37% down from the high last September on the IGV tech-software index fund. I believe the bear narrative of AI disruption does have some weight to it and should be a real fear for these companies but with the current valuations I just don't see it. Some of these forward P/E's of these companies vs their 5 year averages: ADBE 11X vs 5 year average of 32X CRM 18X vs 5 year average of 45X NOW 18X vs 5 year average of 58X INTU 22X vs 5 year average of 42X If you have a longer time horizon it's hard to imagine a world where these don't all become great investments. They may get "rerated" to lower P/Es over time due to additional risks in their business models but even with that there is great value here. Not here to call a bottom or anything their could be even more downside ahead but that's the risk you have to take. As always do your own research.