Intuit Sinks 12% as AI Disruption Fears Spread From TurboTax to QuickBooks, Adobe and ServiceNow Drop 3%

AI disruption fears are weighing on enterprise software stocks, with Intuit (INTU) at the center of a market reset after its fiscal 2027 outlook came in materially below what bulls expected. The weaker-than-hoped forward guidance is reinforcing concerns that competitive pressure from AI-driven change could impair the outlook for growth. Net effect is a cautious positioning signal for the sector and for INTU’s near-to-medium term earnings expectations.