'No reasons to own': Software stocks sink on fear of new AI tool

'No reasons to own': Software stocks sink on fear of new AI tool The new year was supposed to bring opportunities for beaten-down software stocks. Instead, the group is off to its worst start in years. The release of a new artificial intelligence tool from startup Anthropic on Jan. 12 rekindled fears about disruption that weighed on software makers in 2025. TurboTax owner Intuit tumbled 16% last week, its worst since 2022, while Adobe and Salesforce, which makes customer relationship management software, both sank more than 11%. All told, a group of software-as-a-service stocks tracked by Morgan Stanley is down 15% so far this year, following a drop of 11% in 2025.