New York, January 14, 2026, 13:28 (ET) — Regular session
- Intuit shares fall over 7% amid another wave of weakness in software stocks
- A recent SEC filing reveals a new $2.2 billion revolving credit facility linked to seasonal demands
- Traders are focused on next week’s annual meeting and the kick-off of tax filing season in late January
Intuit Inc (INTU.O) shares dropped 7.4% on Wednesday, deepening the retreat in U.S. software stocks. By 1:13 p.m. ET, the stock traded at $560.27, down 7.4%.
The decline comes as the company behind TurboTax and QuickBooks enters peak tax season, a period known for rapid volume shifts and keen investor scrutiny for early signals.
The change also signals a broader shift in the software sector. Investors are reassessing how much they’ll pay for steady subscription growth, especially amid renewed chatter that emerging “AI agents” might pressure pricing down the line.
Intuit revealed in a Monday filing that it secured a new credit deal led by JPMorgan Chase Bank, offering a $2.2 billion unsecured revolving credit facility—essentially a corporate credit line—set to expire on Jan. 9, 2031. The company noted it can tap up to $4 billion more in lender commitments and plans to use that extra room in fiscal 2026 for early refund processing or other product developments. So far, Intuit hasn’t drawn on the facility. (Intuit Inc.)
Shares in the sector were already under pressure the day before when AI startup Anthropic unveiled a preview of a new tool aimed at work tasks beyond coding, according to a Nasdaq.com market commentary. On Tuesday, Salesforce slid over 7%, Adobe dropped more than 5%, and Intuit ended down over 4%. (Nasdaq)
Anthropic introduced a tool named Cowork, positioning it as a work assistant designed for those who don’t code, Axios reported. It’s currently in a limited preview. Investors see it as a fresh signal that AI could drive down the costs of developing and maintaining software. (Axios)
Jefferies software analyst Brent Thill told Barron’s that “software is sucking wind” amid growing concerns about AI-driven disruption sweeping through the sector. The fear: improved coding tools might erode the competitive edge that underpins subscription pricing. (Barron’s)
Tech stocks are sliding again as Wall Street’s major indexes fall for the second day in a row following mixed earnings from big banks. Investors are shifting money into parts of the market that haven’t been in favor. “We’re seeing slight misses, but these stocks had strong run-up into these reports,” said Jake Johnston, deputy CIO at Advisors Asset Management. Eric Diton, managing director at the Wealth Alliance, added that the broader S&P 500 is “due” to outperform the top tech names. (Reuters)
Intuit gave investors an update in November, forecasting second-quarter revenue growth around 14% to 15% for the period ending Jan. 31, with adjusted earnings per share between $3.63 and $3.68. At that time, it also reaffirmed its full-year guidance.
Looking ahead, it’s a calendar-heavy stretch instead of earnings news: Intuit’s annual stockholder meeting is set for Jan. 22. Then the IRS plans to start accepting 2025 federal tax returns on Jan. 26. (Intuit Inc.)
However, the drop could steepen if the wider selloff in expensive software stocks keeps gaining momentum, or if early tax-season demand disappoints. In a risk-averse environment, investors often punish anything that relies on “perfect” execution.
Intuit’s focus in the short term is clear: the January 22 meeting and how management frames things, plus whether demand holds up when filing kicks off on January 26.
