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Posted by
Two Blokes Jun 14 -
Filed in
Stock
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Adobe continues to deliver double-digit revenue growth and strong cash flow, integrating Firefly AI deeply into Creative Cloud to maintain its creative software moat. Despite healthy fundamentals, rapid generative AI innovation—especially from Google's Veo 3—threatens to commoditize creation and erode Adobe's pricing power. Valuation is reasonable at 19x forward earnings, but the premium for Adobe's orchestration moat is at risk, as competitive velocity accelerates and switching costs decline.
