ADBE - Here's the Artificial Intelligence (AI) Growth Stock Down 24% I Just Added to My Portfolio
2024-06-19 18:00:00 ET
Every so often, the market will put a great stock on sale, and it's important to recognize whether that sale is a buying opportunity or a warning to investors.
The market may put a stock on sale because operations are deteriorating, competition is eating into its market share, or for several other legitimate reasons. Sometimes, though, the market ends up weighing near-term challenges much more heavily than a positive long-term outlook of a company. And that can be a great opportunity for investors.
Adobe (NASDAQ: ADBE) is one such company that's seen its stock beaten down recently. It's developing innovative solutions and features using generative artificial intelligence (AI) to support further growth in its market-leading software suites. Despite the market sending shares higher after a strong second-quarter earnings report and improved outlook, the share price is still down 24% from the all-time high it reached at the end of 2021. There's still an opportunity for investors to buy shares today.
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Here's the Artificial Intelligence (AI) Growth Stock Down 24% I Just Added to My Portfolio