2026 has just begun, and the stock prices of several well-known U.S.-listed companies have already taken a significant hit due to the impact of AI. Salesforce, Intuit, Adobe, IBM, CrowdStrike, and even the latest addition, Duolingo, are all on the list. The list keeps growing, with bigger names being added, and even the long-standing king, Microsoft, is seeing its Office business face threats. As time goes on, this list will likely get longer, and more companies will experience declines. This is the structural dilemma of today’s U.S. stock market: on one hand, the rise of AI as the driving force of the Fourth Industrial Revolution; on the other hand, traditional software and internet companies are being disrupted and replaced. Whether it’s the S&P 500 or the Nasdaq 100, there are plenty of former and current star companies that will rapidly decline. So, which companies do you think will enter a long-term, irreversible downward trajectory? Regardless of how the market performs, their stock prices will face a prolonged bear market?