New York, February 12, 2026, 13:28 (EST) — Regular session
- Intuit shares slipped roughly 1.4% in early afternoon trading, deepening the recent selloff.
- Software names dropped, with investors pressing for more tangible payoffs from hefty AI investments.
- Traders now eye U.S. inflation data due Friday, with Intuit’s results set for Feb. 26 drawing attention as well.
Intuit Inc. (INTU.O) slipped 1.4% to $394.06 in early afternoon action Thursday, as a wave of selling hit software names. Shares moved in a $392.61 to $408.67 range, leaving the stock $5.63 below Wednesday’s finish.
Investors are rethinking how “AI” could impact established software names — it’s not just about fresh offerings, but whether automation could eat into fees or subscription revenue. Intuit, maker of TurboTax and QuickBooks, finds itself right in the middle of that debate during U.S. tax season.
Wall Street was already in a downbeat state. Tech shares took another hit, with the S&P 500 software index sliding 2.7%. Atlassian and Adobe both lost over 2%, while Intuit, CrowdStrike, and Datadog dropped between 1% and 3%. “We see this as a ‘prove it’ year for AI. We need to start seeing some return on investments,” said Jack Herr, primary investment analyst at GuideStone Funds. Traders eyed Friday’s U.S. consumer inflation report for fresh clues on the rate-cut outlook. 1
Intuit took the wraps off its AI-driven construction edition for the Intuit Enterprise Suite on Wednesday, doubling down on sector-specific tech. The new ERP features, meant to help align finance and operations, are also available through QuickBooks Online Advanced. “That’s why we’re investing heavily in industry solutions, starting with construction,” said Ashley Still, EVP and general manager for mid-market at Intuit. Aprio’s Jordan Fladell summed up the suite as “one that brings together financial, operational, and project data in one AI-native platform.” 2
Intuit locked in Sept. 17 for its Investor Day, planning to host the gathering at its Mountain View, California headquarters. Senior leaders are set to present, and the company will stream the event live. 3
Intuit’s slump didn’t start with Thursday’s drop. Shares tumbled 5.15% Wednesday, finishing at $399.69—roughly 51% off the $813.70 peak from July 30. Volume surged, exceeding recent norms, according to MarketWatch data. 4
Intuit’s next big event: earnings. Fiscal second-quarter results are coming Feb. 26, right after the bell. Management will break down the figures during a conference call at 1:30 p.m. Pacific. 5
The path isn’t smooth. A surprise jump in inflation would keep rate-cut hopes in check, weighing further on expensive software stocks—even if no new headlines break. On top of that, if AI ends up grabbing tax and accounting tasks from paid providers faster than the market’s betting, Intuit’s grip on pricing could be the next battleground.
Traders are zeroed in on Friday’s U.S. CPI report, hunting for the next rates trigger—and a fresh signal on risk appetite. Looking ahead, focus swings to Intuit’s results on Feb. 26. The street will be keen for clues on TurboTax demand and signs that the Enterprise Suite expansion is making headway.
