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Intuit (INTU) stock plunged 12% to $315.61 as it lowered its FY2027 revenue guidance and projected slower TurboTax user growth, with AI disruption concerns spreading to Adobe and ServiceNow.
Intuit announced revenue growth guidance of 9%-10% for fiscal year 2027 (lower than 14% for fiscal year 2026), and TurboTax user growth guidance of only 2%-3%, raising market concerns about the disruptive impact of AI. JPMorgan Chase significantly cut Intuit's price target from $605 to $331. Affected by this, Adobe (ADBE) and ServiceNow (NOW) stock prices also fell by 3%.
Source：Yahoo财经 · Source Link
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