New York, Feb 17, 2026, 13:51 ET — Regular session
- Intuit shares fall about 5% in afternoon trading, hovering near a 52-week low
- Wix and Intuit expand partnership to integrate QuickBooks Online into Wix workflows
- AI disruption worries keep pressure on software stocks ahead of key inflation data and Intuit earnings
Intuit (INTU.O) shares were down about 5% at around $379 in afternoon trading on Tuesday, after touching a session low in the $375 area. The drop left the stock deep in the red even as broader U.S. indexes steadied after last week’s tech-led selloff.
The move matters because Intuit sits in the middle of U.S. tax season, a period when investors usually lean on its TurboTax franchise for a read on consumer activity. Instead, the stock has become a proxy for a bigger fight over what artificial intelligence does to software profits.
That debate has turned messy. Traders have been treating application software as exposed to cheaper, faster tools, even for companies with entrenched customer bases and recurring revenue.
Earlier on Tuesday, Wix.com (WIX.O) and Intuit said they had expanded a partnership aimed at bringing QuickBooks Online deeper into Wix’s ecosystem for small businesses. Ilan Shaki, Wix’s GM of Channels, called the two platforms “intrinsically complementary,” while Joshua Hofmann, a vice president at Intuit QuickBooks, said the pairing should help businesses “be more productive” by streamlining workflows. (GlobeNewswire)
The announcement did little to change the tape. The S&P 500 software index was down about 1.4% as investors weighed fresh AI risks, including Alibaba’s unveiling of a new AI model, Qwen 3.5, on Monday. “It’s an indiscriminate selling in all things tech, with more focus on software and potential disruption,” said Art Hogan, chief market strategist at B Riley Wealth. (Reuters)
Some analysts have started to argue the selling has become too broad. Dan Ives, a managing director and senior equity research analyst at Wedbush Securities, said the software pullback could prove a “generational opportunity” for investors willing to buy established names into weakness. (Fortune)
For Intuit, the price action has been brutal. Shares have fallen more than 50% from a 52-week high of $813.70 and are trading just above a 52-week low of $375.40, according to Barchart. (Barchart)
The company’s pitch is that it is leaning into AI rather than getting displaced by it. Intuit said in November it struck a multi-year deal worth more than $100 million with OpenAI to use its models across products such as TurboTax, as it pushes more automation and “agent” features into its apps. (Reuters)
Investors are now looking for something more concrete than product demos and partnership headlines. They want to hear whether customers are sticking with higher-priced bundles, and whether small-business clients keep paying for payroll, payments and marketing add-ons as growth slows.
Macro data could also jolt the trade. The next release of the personal consumption expenditures (PCE) price index — the Federal Reserve’s preferred inflation gauge — is scheduled for Feb. 20, a report that can swing rate-cut bets and, by extension, valuations across high-multiple software stocks. (Bureau of Economic Analysis)
But the risks run both ways. The Wix tie-up may take time to show up in revenue, and Intuit still has to persuade investors that AI features lift productivity and retention without eroding pricing power. If the broader tech selloff deepens, the stock could struggle to find a floor.
The next hard catalyst is Intuit’s fiscal second-quarter report on Feb. 26 after the market close, followed by a conference call at 1:30 p.m. Pacific, where guidance and tax-season commentary will be the main focus. (Intuit)
