Adobe Stock's AI Lift Is Wearing Thin -- Time to Buy the Dip?
Creative software and document management leader Adobe (NASDAQ: ADBE) has been a top investor pick in this new era of generative AI computing. The company has struck partnerships with Nvidia (NASDAQ: NVDA) to launch new features across its platform, which Adobe says will unleash a new wave of productive creativity for big businesses and sole proprietors alike.
But after a solid fiscal Q3 earnings report, Adobe shares are falling -- though they remain up more than 60% so far in 2023. Is it time to buy the Adobe dip?
Adobe was naturally quick to announce new products after Nvidia GPUs powering generative AI proved effective at aiding in digital image creation. The company has been adding features that help automate digital workflows for many years. But for this latest round of AI-powered upgrades, Adobe added new text-to-image and enhanced voice commands to its suite of software to help boost creator productivity.
Source Fool.com
Adobe Inc. Stock
The stock is one of the favorites of our community with 59 Buy predictions and 2 Sell predictions.
With a target price of 588 € there is a slightly positive potential of 17.85% for Adobe Inc. compared to the current price of 498.95 €.
