In-line Q3 For Adobe
Sep 20, 2024
Adobe performed pretty much as expected in Q3, with revenues up 11% overall and double-digit growth across all of its varied business units. The firm is emerging as a leader in what I think of as "practical AI" - using the technology to assist in the workflows of its creative tools. Backlog grew 15%, a good sign for growth moving forward. Adobe continues to be a core investment option, and the stock is buyable at current prices. My fair value is $594.
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