Adobe: The Best Time To Buy Is Often When It Is The Most Difficult

2026-02-12 10:21:22 ET

In The Midst Of A Historic Drawdown

After researching ServiceNow ( NOW ) and Trade Desk ( TTD ) over the last few days, I continue my study of the software industry with Adobe ( ADBE ), a pioneer in the software-as-a-service (SaaS) business model. Even though it was a highly controversial decision at the time, Adobe was among the first companies to transition from selling perpetual software in a boxed format to offering a cloud-based solution called Adobe Creative Cloud . ADBE unveiled its Creative Cloud subscription service back in April 2012 , and it is only now, almost 14 years later, that this model is starting to be questioned by the investing community. If we look into the rear-view mirror, there is no question that Adobe has been operating a world-class SaaS business, but financial markets are forward-looking in nature, and that's where the troubles start....

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