Aappapa: We should separate two things here: the collapse of stock prices and the collapse of company earnings.
You cannot influence other investors: for example, during the financial crisis, many good companies also declined because some large investors had to dump shares to get cash elsewhere. So all stocks can collapse, at least temporarily, no matter how good the underlying business.
Or take Orion as an example: it has come down -50% from its peak without any major news, simply because the stock surged into a severe bubble at 60 euros.
Many of today’s stable industries might be on the brink of disruption: for example, I wouldn’t be so sure about the continuation of telecom operators in the long run; they face a major transformation in the next 10 years.