2024-02-15 15:01:19 ET
Summary
- Adobe has been trading at a premium price for ages and value investors shout "Not at these prices" when Adobe's name comes up.
- Investors should get smart about the business to understand that the premium price comes with premium quality i.e. it may be worth its price.
- One has to build conviction that Adobe can sustain its high growth rates for several years to have a compelling investment case.
- I'm getting more and more comfortable with Adobe's price but I still can't see enough growth to get invested.
Introduction - The Origin Story
Adobe ( ADBE ) was founded by John Gaffney and Charles Geschke in 1982 and had its IPO in 1986. Back then, Adobe's flagship product was PostScript, a page description language that revolutionized the laser printing industry. It became the standard language in laser printing until the PDF file format came along in 1993 (also developed by Adobe)....
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Adobe: Getting Comfortable With The Premium Price