Intuit (INTU) stock closed at $399.40 on Friday, facing pressure from an “AI disruption” trade that has seen software stocks shed trillions. Despite cooler-than-expected CPI data providing some relief to growth stocks, concerns about AI’s impact on subscription models have led to a significant 40% plunge in INTU shares this year. Investors are now keenly awaiting Intuit’s Q2 earnings report on February 26 for updates on key products and management’s stance on AI.
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Intuit (INTU) stock price near $400: AI scare trade, cooler CPI and the Feb. 26 earnings test
Intuit (INTU) stock closed at $399.40 on Friday, facing pressure from an “AI disruption” trade that has seen software stocks shed trillions. Despite cooler-than-expected CPI data providing some relief to growth stocks, concerns about AI’s impact on subscription models have led to a significant 40% plunge in INTU shares this year. Investors are now keenly awaiting Intuit’s Q2 earnings report on February 26 for updates on key products and management’s stance on AI.