The stock market is selling off software software stocks due to the theory that AI will lower the moats and bring in competition into these historically highly profitable companies.

The software industry has seen new paradigms and big leaps in technology before, and the strong got stronger on those occasions. Intuit has grown it’s revenues, customer base and enterprise value for more than 40 years. In that time the internet was introduced and SaaS was a new invention that completely changed the software industry.

Intuit advanced and improved their market position after this fundamental industry changes, and I expect $INTU will again will evolve quickly to use AI as an opportunity.