The Financial Post reports in its Wednesday edition that Wall Street has gotten repeatedly burned calling a bottom in software stocks, which have been hit hard by fears that artificial intelligence will make the companies obsolete. A Bloomberg dispatch to the Post says that this week's bounce is bringing hope that the worst may finally be over. In just the past two sessions, a popular exchange-traded fund that tracks the software industry is up 6.4 per cent, Oracle has soared 18 per cent and Microsoft and Palantir have gained 6 per cent. "This idea that AI is going to destroy every software company is I think a little bit hard to get on board with, or at least premature," said Emily Roland, co-chief investment strategist at Manulife. Valuations are so washed out from the sell-off that some investors see an opportunity to buy back in. "The fear has gotten ahead of the fundamentals in a lot of ways," said Ms. Roland. Market technicals also support the case for a software rebound, according to Adam Turnquist, chief technical strategist for LPL Financial. The S&P North American Technology Software index found support near the 1,600 level, and a rally above 1,908 would raise the possibility of a double-bottom breakout.