The Financial Post reports in its Thursday edition that after months of heavy selling on fears of artificial intelligence disruption, software stocks appear to have found a bottom. A Bloomberg dispatch to the Post reports that the S&P 500 software index is coming off its best week since May. Even though gains have been tempered by a dip this week, stocks still look cheap as a result of the sell-off that began in the second half of last year. A Goldman Sachs software basket is trading for 22 times forward earnings, compared with 21 for the S&P 500 Index. Over the past decade, it has traded at an average multiple of 52, while the S&P 500's average is 19. Shares of cloud-based software provider Salesforce are priced at less than 15 times earnings compared with its 10-year average of 46. Microsoft is trading for 22 times earnings, down from its 10-year average of 27. Mirova's Hua Cheng says, "We see a big disconnect between valuations and high-quality fundamentals, where the risks seem exaggerated." Risk has been a major concern for software makers as investors fret about AI's impact. The idea is that if AI can code, companies might create their own software, eliminating the need for external providers.