Why Adobe Stock Was Sliding Today
Shares of Adobe (NASDAQ: ADBE) were falling Friday after the cloud software giant beat estimates for its fiscal first quarter, but issued disappointing guidance for the current quarter, sparking concerns that competition was catching up to it and it was failing to fully capitalize on i opportunities of artificial intelligence (AI).
As of 2:15 p.m. ET, the stock was down by 14.1%.
Source Fool.com