Thing is, those companies can't do much if whole lines of business will become obsolete. Behind every company, there is a core competence that forms the value and the rest of the business is just a wrapper. When core competence is worthless, the company is just out. Even if they know it's coming there's little they can do. In fact, best thing they can actually do is turning the company into a milk cow to extract all value they can here and now, stopping all investments into future - will probably generate enormous profits for a few years. Extract them and invest into the wider stock market.