Mizuho Calls AI Tax Filing Worries Overblown for Intuit (INTU)

Intuit Inc. (NASDAQ:INTU) ranks among the most promising QQQ stocks according to hedge funds. On January 15, Mizuho reiterated its Outperform rating and $875 price target for Intuit Inc. (NASDAQ:INTU), despite a share dip caused by recent concerns about artificial intelligence disruption. The firm stated that INTU shares had fallen after the launch of Claude Cowork and online rumors that users would file taxes using AI.

Mizuho saw such worries as “overblown” and likened them to prior doubts about OpenAI and “ChatGPT filing taxes,” which were subsequently alleviated once Intuit collaborated with OpenAI to incorporate the TurboTax process.

In a similar vein, Intuit Inc. (NASDAQ:INTU) also opened a new TurboTax flagship store in New York City’s SoHo neighborhood, representing a substantial rise from almost 600 Expert Office locations to 20 TurboTax stores across the country. This approach combines digital tax filing with in-person expertise, resulting in a more efficient tax experience.

Intuit Inc. (NASDAQ:INTU) provides financial management, payments & capital, compliance, and marketing products and services in the US. The company operates in four segments: Global Business Solutions, Consumer, Credit Karma, and ProTax.

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Disclosure: None. This article is originally published at Insider Monkey.