Interesting/high-quality stock on sale - You probably noticed that $INTU dropped as much as 20% yesterday! Do you think this has created an interesting opportunity?

Intuit plunged mainly because the market received a clear signal that "something is wrong under the hood," even though the headline numbers looked decent. The company announced its second major round of layoffs in a few years - this time about 17% of employees (≈3,000 people) - with restructuring costs of around $300–320 million, supposedly to "slim down and lean more into AI." At the same time, the key TurboTax business reported weaker-than-expected numbers, which again raised the question of whether generative AI is starting to nibble away at its tax business—and that’s exactly the core that had long justified the high valuation.

The results as a whole didn’t look bad: quarterly revenue grew roughly 10% to $8.56 billion and adjusted EPS of $12.80 beat estimates, and the company also predicts revenue growth next quarter of 11–12% above consensus. The fact that the stock still fell by 20% in one day (the biggest drop since 2003) and is more than 50% down YTD shows the problem is a lack of confidence about the future: investors fear Intuit is in the painful process of rewriting its model (AI, restructuring) and that TurboTax no longer has the secure position it once appeared to have.