New York, January 29, 2026, 19:09 EST — After-hours
- Intuit shares fell roughly 6.7% in late after-hours trading, deepening Thursday’s steep decline.
- Software stocks tumbled broadly after SAP and ServiceNow sparked fresh concerns over AI-driven disruption.
- Intuit will release its fiscal second-quarter results on Feb. 26, as investors look for a fresh catalyst following a turbulent week.
Intuit Inc shares dropped 6.7% to roughly $503 in late after-hours on Thursday, after earlier moving between $492.08 and $536.65. Volume stood near 5.9 million shares.
The fall leaves TurboTax and QuickBooks owner facing a sharp early-year slump, with investors jittery over how quickly generative AI will change what software buyers are willing to pay for. Intuit has dropped more than 25% in 2026, ranking it among the S&P 500’s poorest performers, MarketWatch reported.
Intuit announced Thursday that it will release its fiscal second-quarter results on Feb. 26. The quarter wraps up on Jan. 31. The company also set a conference call for 1:30 p.m. Pacific time.
Thursday’s drop came as software stocks took a hit following SAP and ServiceNow’s earnings updates, which reignited concerns about AI tools undermining subscription prices. The fear: customers might find it cheaper to develop apps and code themselves. SAP tumbled over 16% after its cloud outlook fell short, while ServiceNow dropped 11% despite strong subscription forecasts. Microsoft slipped 12.1%, weighed down by slower cloud growth and higher AI expenses. The S&P 500 Software & Services index slid 8.7%, hitting its lowest point in nine months. J.P. Morgan analysts described the sector as trapped in a “vicious cycle” of low valuations and stubbornly high expectations. Reuters
The broader market held relatively steady. The SPDR S&P 500 ETF slipped around 0.2%, while the Invesco QQQ Trust dipped about 0.6% in late trading. Against that, Intuit’s drop felt more like a sector shakeup than a broader market disruption.
Intuit is gearing up for the AI wave with a new initiative targeting accounting students. The company announced a Career Pipeline Program, starting with a virtual Career Lab on Feb. 3-4, aiming to upskill 1 million students within five years. “Our commitment to upskill one million students is rooted in listening to our accounting partners,” said Simon Williams, vice president of Intuit’s accountant segment. Intuit Inc.
For investors, the focus is squarely on the numbers rather than the messaging. Intuit’s upcoming report is set to update expectations around TurboTax’s tax-season momentum, demand for QuickBooks among small businesses, and its spending on AI capabilities.
One risk is that the AI technology rattling the software sector might hit Intuit head-on. RBC Capital flagged the possibility that customers could turn to general-purpose AI tools instead of paying for some tax or bookkeeping services. This threat may emerge initially in guidance, not revenue.
On the flip side, this tape can shift fast. Should the upcoming software earnings beat expectations, those who sold early without waiting might scramble to buy back in.
Friday’s trading will reveal if Thursday’s plunge in software stocks has run its course or is merely pausing. Intuit’s next key dates? The Career Lab event on Feb. 3-4 and its earnings call set for Feb. 26.
