The S&P 500 is up 8.28% this year. However, ten of its stocks lost more than 40%.
Both things are true at the same time. Investors will pay almost anything for AI. They’re abandoning everything they think AI will kill.
Artificial intelligence crushes fear of software and stock advisory
Damage is concentrated. The names of software, consultations, and ads fill the bottom of Slickcharts existing.
It started in February. Anthropic has released a new AI model. Enterprise software stocks were sold off heavily. Traders called it SaaS-pocalypse.
Intuit (INTU) is the most obvious victim, down 55.27%. It owns TurboTax, which generates about a quarter of the company’s revenue and profits.
Then cheap AI tax tools arrived. Goldman Sachs analyst Gabriela Borges cut her June price target to $276, down from $519.
Intuition moved quickly. It has cut 17% of staff, roughly 3,000 jobs. It also lowered its forecast for TurboTax.
The company is now worth about $88 billion, according to Forbes I mentioned. A year ago, its value was more than $219 billion.
Accenture (ACN) tells a similar story, down 45.21%. Clients spend on AI instead of advisors.
New customer orders fell to $19.3 billion from $19.7 billion. Accenture lowered its sales growth forecast to between 3% and 4%. The stock fell nearly 18% in one day.
Cognizant (CTSH), Gartner (IT), and The Trade Desk (TTD) each lost 44% to 55%. All three sell works that AI can copy.
But the biggest losers have nothing to do with artificial intelligence
Here is the twist. The two worst stocks fell for old-fashioned reasons.
CoStar Group (CSGP) stock fell 58.86%, the weakest in the index. Its problem is spending, not artificial intelligence.
CoStar owns Homes.com, a real estate listings site. The site would not cover its own costs until 2029, it said in January. It is not expected to become profitable until 2030.
Basic work is fine. Revenue jumped 23% to $897 million last quarter. The profit was only $3 million.
Investors have lost their patience. In February, hedge fund DE Shaw asked CoStar to stop operating or shrink Homes.com. She said this move could save more than $10 billion. CoStar called the campaign “malpractice.”
Shareholders backed the board in June. Nasdaq had already dropped the stock from the Nasdaq 100 index in May.
Boston Scientific (BSX) stock fell 53.59%. It simply grew slower than it promised.
In February, it expected sales to grow by 10% to 11%. By April, that percentage had been reduced to between 6.5% and 8%.
One competitor explains why. Medtronic said that its sales of cardiac devices rose by 124% in the United States. It took “8 additional points from the US quota.”
Then the bad news piled up. Boston Scientific has recalled its Accolade defibrillators. Organizers linked the error to four deaths and 2,557 serious injuries. It also agreed to buy Penumbra for $14.5 billion.
Where did the money go instead?
Chip and memory makers took it. Sandisk (SNDK) price is up 505.17% this year. Dell Technologies (DELL) stock rose by 247.55%. Micron Technology (MU) stock rose 222.68%.
Small investors also piled in, leading to a feed AI capex boom Through tranche money. Now a narrow group of winners leads the entire index, the data indicate AI stocks lead gains He appears.
Everything else was punished for any misstep. Expensive stocks fell the most when expectations fell, a risk that has been reported recently Earnings bubble warnings.
CoStar and Boston Scientific are announcing the results this week. These numbers will show whether investors are right or just impatient.
this post 10 stocks that lost more than 40% in 2026 as investors get rid of everything that artificial intelligence might kill appeared first on BeInCrypto.
