Will Adobe Be a $1 Trillion Stock by 2030?
Thanks to artificial intelligence (AI), software giant Adobe (NASDAQ: ADBE) has been on a tear. The stock is up by more than 60% since the beginning of the year as investors have taken a greater interest in its AI-driven applications.
The increase has taken Adobe's market capitalization to around $240 billion. Still, the question for investors is whether that market cap can reach $1 trillion by 2030, seven years from now. Let's examine that path to growth for some insights into Adobe's prospects for reaching this goal.
At $240 billion, Adobe's market cap has to double slightly more than twice for it to reach $1 trillion. Over seven years, achieving that feat means the stock price needs to rise at a 23% average annual growth rate during that time.
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 18.18% for Adobe Inc. compared to the current price of 497.55 €.
