Wall Street strategists encouraged investors to rebuild equity exposure after a sharp post-election selloff, arguing that it represented a correction rather than the collapse of the artificial-intelligence trade. The S&P 500 fell 4.4% on Thursday and the Nasdaq 100 dropped 6.4%, erasing about $3 trillion in S&P 500 market value, before the S&P 500 recovered 0.3% on Friday but remained down 2.5% since polls closed. Mike Wilson of Morgan Stanley maintained an 8,000 year-end S&P 500 target, Ed Yardeni set a 7,900 target, Jonathan Golub held an 8,200 target, and the average Bloomberg target was 7,973. Warren Buffett, speaking at Berkshire Hathaway’s 2020 annual meeting, separately warned that investors must withstand declines of 50% or more, avoid borrowing and emotional decisions, and evaluate investments over 20- or 30-year periods. The selloff centered on semiconductor and AI-infrastructure shares: the iShares Semiconductor ETF fell 12.8%, the Philadelphia Semiconductor Index fell 12.3% on the latest decline and remained down 36% from its June peak, then SOXX recovered 3.51% to close at $136.53 on Friday. Democrats’ election gains raised concerns about data-center construction, regulation, tariffs and the U.S.-Iran war, driving sharp sector rotation.