{"id":297,"date":"2026-06-02T23:16:10","date_gmt":"2026-06-02T23:16:10","guid":{"rendered":"https:\/\/coasttocoastmoverss.com\/?p=297"},"modified":"2026-06-02T23:16:10","modified_gmt":"2026-06-02T23:16:10","slug":"intuit-becomes-sp-500s-worst-performer-this-year-heres-why","status":"publish","type":"post","link":"https:\/\/coasttocoastmoverss.com\/?p=297","title":{"rendered":"Intuit Becomes S&#038;P 500\u2019s Worst Performer This Year: Here\u2019s Why"},"content":{"rendered":"<div>\n<h2>Big Number<\/h2>\n<p>$131 billion. That\u2019s how much Intuit\u2019s 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.<\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=294\">DHS Won\u2019t Pull Customs Officers From Newark Airport\u2014But Keeps Plan For Other Blue Cities<\/a><\/p>\n<h2>Why Are Intuit Shares Down?<\/h2>\n<p>Intuit is among the software firms whose shares plummeted during the \u201cSaaS-pocalpyse,\u201d or the fear that AI models could replace many traditional software subscriptions, like Intuit\u2019s TurboTax. Shares of Intuit stumbled in February following the release of Anthropic\u2019s 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 \u201cAI-driven expert platform strategy\u201d as it relies more on the technology.<\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=292\">Winklevoss Twins Were \u2018Politically Targeted,\u2019 CFTC Chief Says\u2014Clashing With Ex-Nominee Trump Yanked<\/a><\/p>\n<h2>Further Reading<\/h2>\n<p><span><span>Forbes<\/span><span>Software Stocks\u2014Oracle, Intuit, More\u2014Fall As Anthropic\u2019s Latest Claude Model Fuels AI Concerns<\/span><small>By <span>Ty Roush<\/span><\/small><\/span><span><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Analysts anticipate increased competition to disrupt the TurboTax owner.<\/p>\n","protected":false},"author":1,"featured_media":296,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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