New York, Feb 17, 2026, 13:51 ET — Regular session
- Intuit shares slipped roughly 5% during the afternoon session, trading just above their 52-week low.
- Wix and Intuit are taking their partnership further, bringing QuickBooks Online directly into Wix’s workflows.
- Software shares stayed under pressure, as concerns over AI disruption lingered in the run-up to crucial inflation figures and Intuit’s earnings report.
Intuit (INTU.O) dropped roughly 5% to trade near $379 Tuesday afternoon, having slipped as low as $375 earlier. The stock stayed sharply negative, bucking a broader bounce in U.S. indexes following last week’s tech-driven slide.
This shift is notable: Intuit is right in the thick of U.S. tax season — investors typically watch its TurboTax arm for signals on consumer momentum. But lately, the stock’s been swept up in a broader debate about how artificial intelligence could reshape software margins.
The debate’s gotten tangled. Traders are lumping application software companies in with those most at risk from cheaper, faster tools—even when those firms have loyal customers and steady, recurring revenue streams.
On Tuesday, Wix.com (WIX.O) and Intuit announced they’re broadening their partnership, aiming to embed QuickBooks Online more deeply within Wix’s small business platform. Ilan Shaki, Wix’s GM of Channels, described the two offerings as “intrinsically complementary.” Joshua Hofmann, a vice president at Intuit QuickBooks, added that combining the platforms should make it easier for businesses to “be more productive” by cutting down on workflow hassles. 1
The news barely nudged the tape. S&P 500 software names were off roughly 1.4% as traders digested a new slate of AI risks—Alibaba rolled out its Qwen 3.5 model 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. 2
Some analysts now say the selloff’s scope is overdone. Dan Ives, managing director and senior equity research analyst at Wedbush Securities, called the recent slump in software stocks a possible “generational opportunity” for buyers who step into established companies during this rough patch. 3
Intuit stock hasn’t caught a break. The shares have plunged over 50% from the 52-week peak of $813.70, now sitting barely above the 52-week floor at $375.40, Barchart data shows. 4
Intuit is making a bet on AI, not shying away from it. Back in November, the company announced a multi-year agreement with OpenAI valued at more than $100 million—aiming to weave the technology into products like TurboTax. The goal: ramp up automation and add more “agent” tools to its software. 5
The mood has shifted—investors aren’t satisfied with flashy demos or announcements about new partnerships anymore. They’re pressing for details: Are customers holding onto those pricier bundles? Will small-business clients still shell out for extras like payroll, payments, and marketing tools if growth tapers off?
Macro numbers may shake things up for traders. The personal consumption expenditures (PCE) price index, which the Fed watches closest on inflation, lands Feb. 20. That report has the power to shift expectations for rate cuts and, with that, valuations for high-multiple software names. 6
Risks aren’t one-sided here. Revenue from the Wix partnership might be slow to materialize, and Intuit faces the challenge of convincing investors its AI tools actually boost productivity and retention—without cutting into pricing power. A deeper tech selloff? The shares could have trouble holding steady.
Intuit is set to release its fiscal Q2 results after the bell on Feb. 26, with a conference call scheduled for 1:30 p.m. Pacific. Wall Street will be zeroed in on any guidance and what the company says about tax season. 7
