Intuit Inc. (NASDAQ:INTU) shares are slipping Tuesday as traders lean into a risk-off move in the stock, with enterprise software names broadly under pressure amid growing questions about whether Meta’s new Muse AI agent could reduce demand for legacy software offerings.

Intuit Drops Sharply Despite a Constructive Broader Market

Today’s decline looks out of step with the rest of the market. The Nasdaq is up 0.66% and the S&P 500 has added 0.08%, and Technology stocks as a group are higher by 0.55%. Seven sectors are advancing against just four declining, a backdrop that points to something specific to Intuit driving the move rather than a broader risk-off wave.

Intuit’s own chart may offer a clue. Shares have slid considerably over the trailing 12 months, and traders have periodically used bounces back toward the stock’s moving averages as chances to lighten positions rather than buy in. Today’s weakness looks consistent with that same pattern playing out again.

Muse Partnerships Raise Questions About Legacy Software Demand

Separately, a wave of new deals connecting Meta Platforms Inc.’s (NASDAQ:META) recently launched Muse AI agent to online shopping and checkout tools has investors rethinking how much business legacy software platforms might lose if AI agents start handling more day-to-day tasks on their own.

PayPal Holdings Inc. (NASDAQ:PYPL) disclosed its own arrangement with Meta this week, saying the setup would let customers “seamlessly shop and check out using their Muse personal AI agents” anywhere PayPal is accepted.

Shopify Inc. (NASDAQ:SHOP) shares climbed too after revealing a comparable partnership, linking its merchant base directly into Muse so buyers can finish transactions through Shop Pay, the company’s streamlined one-click payment system. Shopify chief executive Tobias Lütke described the goal as making the Muse shopping experience “easy and delightful.”

Meta chief executive Mark Zuckerberg confirmed the news on X, framing it as a way to help both shoppers and merchants while hinting that additional similar partnerships are on the way. Since these deals push commerce and payment activity through Meta’s own AI system rather than relying on dedicated third-party software, some investors appear to be weighing whether companies like Intuit could see less demand for their standalone tools as more everyday tasks shift toward agentic AI.

Wall Street Remains Bullish Despite Today’s Drop

Despite today’s selloff, Intuit carries an overall Buy rating on Wall Street, with an average price target of $378. Recent analyst actions include Evercore ISI maintaining an Outperform rating with a $400 target on September 18, Mizuho maintaining an Outperform rating with a $430 target that same day, and Stifel maintaining a Hold rating with a $300 target, also on September 18.

INTU Shares Are Slipping

INTU Price Action: Intuit shares were down 4.79% at $289.56 at the time of publication on Tuesday, according to Benzinga Pro.

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