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Adobe Is Riding The A.I. Wave All The Way Up..

Adobe is a Top 15 rated Large Cap Stock pick in the Thirty Excel Stock Database.

Adobe released its 2nd Quarter earnings today (June 15) after market close. Adobe posted revenue of $4.82 billion which is up 10% from previous year. The revenue was also above Wall Street analyst projections of $4.7 billion.

Adobe is a leader in digital media content creation tools and its digital medial recurring revenue was $470 million in this quarter.

Adobe's management is very optimistic going forward as it indicated that 'generative AI will fuel the company's growth'.

Investors must feel the same way recently as Adobe soared to $508.30 after market hours. The stock has been on a rapid upswing over the last month. The stock was trading in the $350 range on May 15 and is up over 44% over the last month.

We are positive on the company as a long term holding, but the rapid move may present an opportunity to take a portion of profits or purchase downside protection. It is very much in the realm of possibility to see a pullback in the short-medium term in this position.

The information provided in this report is for general informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. The opinions expressed in the report are our own and are subject to change without notice. We may have a position in the securities mentioned in the report, and we may buy or sell such securities without notice. Any investment decisions made based on the information in this report are solely the responsibility of the recipient. We do not accept any liability for any direct, indirect, or consequential loss arising from any use of this report or its contents. Please consult with your financial advisor before making any investment decisions.


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