Adobe Likely Undervalued Today
"ADBE is a sticky, subscription software business with resilient free cash flow that the market is undervaluing after AI fears—Firefly is positioned to enhance Photoshop rather than replace it, and the stock’s massive drawdown creates an attractive gap between fundamentals and the price."
"Adobe's buybacks won't cure a worsening business narrative, so I view the stock negatively until the underlying growth story improves."