Salesforce, Intuit and Fox Corporation stocks declined sharply on Thursday, slipping to annual lows amid AI and deal concerns.
- CRM stock closed down more than 2% on Thursday as concerns about the impact of autonomous AI agents on the company’s software continued to weigh on investor sentiment.
- INTU fell 0.77% at close amid rising concerns over generative AI disruptions and worries about its growth.
- FOXA shares recovered, closing up about 1.77% after slipping to an annual low amid concerns about its takeover of Roku.
Stocks of Salesforce (CRM), Intuit Inc. (INTU), and Fox Corporation (FOXA) declined sharply last week, slipping to 52-week lows amid fears of artificial intelligence and acquisition concerns.
CRM stock closed down more than 2% on Thursday, and INTU fell 0.77% at close. Meanwhile, FOXA shares recovered from the decline, closing up 1.77%.
U.S. markets were closed on Friday in observance of Juneteenth National Independence Day.
Salesforce Continues To Decline Amid AI Agent Concerns
CRM stock slid to a fresh annual low of $149.80 on Thursday, marking three consecutive weeks of declines as concerns about the impact of autonomous AI agents on the company’s software continued to weigh on investor sentiment.
Meanwhile, Salesforce recently agreed to acquire AI-powered customer service platform Fin for approximately $3.6 billion. While the deal is aimed at strengthening its Agentforce offering and bolstering its broader agentic AI strategy, it has raised significant concerns about its impact on the company’s profitability.
However, analysts at Jefferies and Truist backed Salesforce’s acquisition of Fin, citing its AI capabilities, strong growth potential, and strategic fit within its ecosystem as key drivers of long-term value, according to TheFly.
Last week, Monness Crespi analyst Brian White also upgraded Salesforce to ‘Buy’ from Neutral with a $200 price target, saying that it now believes the stock's valuation is "compelling," as per TheFly.
CRM stock has declined about 40% so far in 2026, but retail sentiment has stayed ‘bullish’ over the past day.
Intuit Falls On Growth Apprehensions
Financial technology company Intuit’s shares fell to a new 52-week low of $259.23 on Thursday amid rising concerns over generative AI disruptions as well as worries over its growth.
Last week, Stifel downgraded INTU to ‘Hold’ from ‘Buy’ and lowered its price target to $275, down from $375. The analyst said it believes management will lower its near- to medium-term growth targets for both TurboTax and GBS with fourth-quarter results or in its September Analyst Day commentary. Stifel also said that after years of taking price, the company has moved to a more value-based pricing strategy, especially at the lower end of each business segment, to help stall the recent share erosion.
Earlier, Goldman Sachs downgraded Intuit to ‘Sell’ from ‘Neutral’ with a price target of $276, down from $519, citing concerns about a slower pace of revenue growth.
INTU’s stock price has declined by about 57% so far this year, while retail sentiment on Stocktwits has remained in the ‘bearish’ territory over the past 24 hours.
Fox Slides Amid Roku Deal Concerns
FOXA shares fell to a fresh 52-week low of $50.68 on Thursday amid growing concerns about the company's proposed $22 billion acquisition of Roku Inc. (ROKU).
Last week, Fox announced that it would acquire Roku in a cash-and-stock deal that would provide it with access to more than 100 million streaming households under Roku's umbrella and expand its reach in digital advertising and connected TV.
Investors are concerned that the deal will increase Fox’s debt load and lead to heavy share dilution, even as concerns mount about whether Roku will remain a neutral partner.
After the deal announcement, analysts were divided on Fox’s acquisition of Roku. Seaport Research analyst David Joyce slashed the price target on FOXA by more than 15% to $61 and maintained a ‘Buy’ rating on the shares, while Morgan Stanley viewed it as a strategic move to expand into streaming platform ownership. Barclays, meanwhile, warned of integration, leverage, and platform-conflict risks.
On Stocktwits, retail sentiment around FOXA was in the ‘bullish’ territory over the past 24 hours. FOXA stock has declined about 29% so far this year.
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