Big Number
$131 billion. That’s how much Intuit’s market value has decreased over the last year, falling from an all-time high of just over $219 billion in July 2025 to $88.1 billion on Friday.
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Why Are Intuit Shares Down?
Intuit is among the software firms whose shares plummeted during the “SaaS-pocalpyse,” or the fear that AI models could replace many traditional software subscriptions, like Intuit’s TurboTax. Shares of Intuit stumbled in February following the release of Anthropic’s latest Claude AI model, which Anthropic claimed could automate tasks for customer service, product management, marketing, legal and data analysis, among others. Shares plunged by more than 14% last month after Intuit lowered its full-year TurboTax revenue estimates and announced it would cut its full-time workforce by 17%, or roughly 3,000 roles globally. CEO Sasan Goodarzi cited an anticipated decline in IRS filings, but argued the firm would be bolstered by its “AI-driven expert platform strategy” as it relies more on the technology.
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Further Reading
ForbesSoftware Stocks—Oracle, Intuit, More—Fall As Anthropic’s Latest Claude Model Fuels AI ConcernsBy Ty Roush