Wall Street Has Soured on Artificial Intelligence (AI). Here's Why That's a Buy Signal for These 2 Stocks in 2026.

Most good investments start when the crowd is moving in the opposite direction of what you are buying. Right now, it feels like Wall Street is punishing anything with "AI" in the pitch deck, rotating out of tech into energy and consumer staples, and convincing itself the party is over.

I'll be honest. I don't mind seeing this artificial intelligence (AI) pullback. I've been saying for a while that AI stock valuations have gotten ahead of themselves. To be clear, that doesn't mean AI isn't real or durable -- it absolutely is -- but the level of hype, aggressive funding rounds, and stretched multiples was getting a bit excessive.

That said, being skeptical of all the hype doesn't mean value isn't present. As capital rotates and sentiment cools, opportunities start to show up in places the market isn't paying attention to.

Here are two under-the-radar AI stocks I'd actually be buying into this wave of fear.

Image source: Getty Images.

1. Clearfield

Clearfield (NASDAQ: CLFD) is a Minneapolis-based fiber connectivity company with no debt, $157 million in cash, and a new product line targeting AI infrastructure demand. The company just launched its NOVA Platform, a modular, high-density fiber ecosystem designed specifically for data center environments where AI workloads live.

In simple, easy-to-digest terms, this platform makes it easier to install and expand fiber cables that power internet and data centers, especially as demand from AI and faster networks continues to grow. It offers a plug-and-play setup that lets companies add more connections quickly without special tools or complex changes, saving time, space, and costs.

The company's CEO said it plainly in Q1 2026: "The NOVA product line positions Clearfield to leverage the demand for higher fiber density driven by data center deployments, low latency applications, and AI."

Revenue grew 16% year over year in Q1 to $34.3 million, with gross margins expanding 400 basis points to 33.2%. Full-year guidance sits at $160 million to $170 million.

The NOVA platform is built for operators who need to scale without rebuilding, which is every AI data center operator alive today.

I don't think the market has priced the company's potential in yet, probably because Clearfield's community broadband roots make it easy to dismiss as a boring rural telecom story. Because of this, I think this is a safe bet for 2026.

2. Concentrix

Most people hear "business process outsourcing" and tune out. That misunderstanding is exactly why Concentrix (NASDAQ: CNXC) has looked so cheap.

But Tuesday's sell-off following its latest earnings release changes the tone a little bit. Concentrix has fallen roughly 38% so far in 2026 and now trades at around $26 per share -- 60% below its 52-week high of $65.04 set in March 2025. A $1,000 investment in Concentrix shares five years ago would be worth just $206 today.

The stock dropped over 22% after fiscal Q1 2026. Revenue was fine at $2.5 billion (up 5.4% year over year), but margins told the real story. Concentrix's operating margin fell to 4.7% from 7.1%, EPS missed, and guidance came in weak.

In a fragile macro AI backdrop, that's enough to crush sentiment, especially with the Federal Reserve still cautious and costs rising.

In the short term, with this ticker, the risks are clear. There is margin pressure, a soft outlook, and high volatility. But if you zoom out longer term, I still think this ticker has some upside this year, especially after a 20% sell off.

Concentrix has a new iX Hello platform that is deploying agentic AI (think emotionally aware, multilingual systems) in production with clients like Nespresso. NelsonHall recently named it a leader in GenAI-powered transformation, with measurable efficiency gains.

At approximately 10x earnings, the market is pricing in disruption. But if Concentrix becomes the layer that brings AI into real customer interactions, that narrative flips.

It's messy and volatile, but after this drop, the risk/reward is starting to favor buyers willing to ride it out. Once this ticker finds some local lows, it will be safe to invest in for the rest of 2026.

Micah Zimmerman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.