Michael Burry identifies Intuit as an attractive investment opportunity, suggesting the market has reached peak AI threat. The Scion Asset Management founder believes specific software stocks are positioned for a rebound following significant declines.
Intuit shares have fallen approximately 36.6% year-to-date. Burry acknowledges the company faces disruption from artificial intelligence but highlights its strong network effect and massive user base.
The investor argues that technical market pressures drove the recent software sell-off rather than fundamental weaknesses. Burry also identified ServiceNow as a stock reaching interesting price levels.