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Justin Sullivan/Getty Images NewsOverview Adobe’s (NASDAQ:ADBE) price dropped by 18% while the S&P 500 went up by 7.4% (Figure 1) after OpenAI released Sora, a new AI capable of producing high-quality videos directly from text descriptions, and Adobe issued revenue guidance for the second quarter of 2024 that fell short of expectations. Figure 1: Seeking Alpha Adobe reported revenue of $5.18 billion for 1Q, up 11%, beating the expected $5.14 billion. Adjusted profits were $4.48 per share, exceeding Wall ...

Adobe Systems (ADBE) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this software maker have returned -6%, compared to the Zacks S&P 500 composite's +3% change. During this period, the Zacks Computer - Software industry, which Adobe falls in, has gained 3.5%. The key question now is: What could be the stock's future direction?While media releases ...

Adobe's (ADBE -0.39%) stock was crushed late last week after earnings -- and for good reason. The company isn't growing rapidly on the back of artificial intelligence, and it looks like shares have been bid up to an unsustainable level. In this video, Travis Hoium covers the multiples and what investors should watch for next.*Stock prices used were end-of-day prices of March 15, 2024. The video was published on March 19, 2024. ...

SAN FRANCISCO, CALIFORNIA - DECEMBER 13: A sign is displayed on the exterior of an Adobe office on ... [+] December 13, 2023 in San Francisco, California. Computer software company Adobe will report fourth quarter earnings today after the closing bell. (Photo by Justin Sullivan/Getty Images)Getty ImagesAdobe’s stock (NASDAQ NDAQ : ADBE DBE ) has lost 17% in 2024 as compared to the 7% rise in the S&P500 index over the same period. Further, the stock price dropped 13.7% on Friday vs a 0.7% gain in the broader ...

A downtrend has been apparent in Adobe Systems (ADBE) lately with too much selling pressure. The stock has declined 9.9% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for s ...

SONY Corporation (SONY) has stopped the production of its PlayStation VR2 headset for the time being amid unsold inventory pile up, per a Bloomberg report.Citing an IDC report, Bloomberg further noted that shipments have declined every quarter for PS VR2 headset since it was unveiled.SONY introduced PS VR2 in February 2023 and has produced over 2 million units of the product. There has been no official word on the development from Sony.Citing an analyst, the report highlighted that hefty price tag ($550) an ...

Adobe's (ADBE -13.67%) stock price sank 11% during after-hours trading on March 14 in response to the cloud-based software provider's latest earnings report. For the first quarter of fiscal 2024, which ended on March 1, its revenue rose 11% year over year to $5.18 billion and exceeded analysts' expectations by $30 million. Its adjusted EPS grew 18% year over year to $4.48 and also cleared the consensus forecast by a dime.Adobe's headline numbers looked healthy, but its guidance was uninspiring. It expects i ...

junak Some of you devoted tech investors and traders might have been surprised by how some great stocks have fallen seemingly through the floor. I believe that part of this is part of a sideways correction process where the high-flyers are giving up gains, but those funds are being distributed elsewhere. Corrections can happen in a downward swoop or stocks can correct in a sideways motion over time. The indexes haven't shown us a typical 3% to 7% or even 10% correction that happens more than once a year. In ...

Adobe (ADBE -13.67%) stock sold off on Friday after the software giant reported record revenue but muted Q2 fiscal 2024 guidance. The stock is now down around 20% since Feb. 1 in what has otherwise been a great period for the broader market and for artificial intelligence (AI) fueled growth stocks.Let's dive into Adobe's results and management commentary to determine if this is a bad omen for the AI theme, or if Adobe's issues are more company-specific. An AI-driven investmentTo some extent, Adobe has alway ...