1 Unstoppable Artificial Intelligence (AI) Stock That Could Join the Trillion-Dollar Club
Share prices of (NASDAQ: ADBE) jumped an impressive 60% so far in 2023 thanks to the company's consistently strong results. It also got a boost from investors interested in its growing focus on integrating artificial intelligence (AI) across its offerings.
The software company, which is known for popular programs like Photoshop, Acrobat, Premiere, and others, is aggressively deploying generative AI features into its media, publishing, and advertising offerings. Let's see why that could be a big deal and help Adobe stock soar higher in the long run.
The adoption of AI in the digital content creation space is growing rapidly. According to third-party estimates, catalysts such as AI could send the digital content creation market's annual revenue to $181 billion in 2032 compared to $19.5 billion last year. So, Adobe's already massive total addressable market (TAM) of $205 billion is set to expand even further in the long run.
Source Fool.com
Adobe Inc. Stock
The stock is one of the favorites of our community with 60 Buy predictions and 2 Sell predictions.
With a target price of 588 € there is a slightly positive potential of 17.11% for Adobe Inc. compared to the current price of 502.1 €.
