Did Adobe Just Signal a Red Flag for AI Growth Stocks?
Adobe (NASDAQ: ADBE) stock sold off on Friday after the software giant reported record revenue but muted Q2 fiscal 2024 guidance. The stock is now down around 20% since Feb. 1 in what has otherwise been a great period for the broader market and for artificial intelligence (AI) fueled growth stocks.
Let's dive into Adobe's results and management commentary to determine if this is a bad omen for the AI theme, or if Adobe's issues are more company-specific.
Image source: Getty Images.
Source Fool.com
Adobe Inc. Stock
€461.05
0.750%
With 45 Buy predictions and 2 Sell predictions Adobe Inc. is one of the favorites of our community.
As a result the target price of 590 € shows a positive potential of 27.97% compared to the current price of 461.05 € for Adobe Inc..
