지금 어도비 주식이 저평가된 건 아닐까요? 🤔

No.  Simply never buy a company whose main clients hate them.

Idk man, i used to love photoshop and a couple years ago i probably would have paid $300+ for it but i told myself im certainly not paying a subscription for it, which made me look for other options

Now a few years later i wouldnt buy it even if it was $10. Why? Because i started using free software better than photoshop that i wouldnt have even know existed if photoshop just charged me a few years ago instead of trying to make me pay for a subscription.

Photoshop isnt the only example, all of their softwares have better alternatives now

Every time I've ever tried to buy Adobe thinking what you are thinking right now, I have been horribly underwhelmed. I invest in them thinking that eventually they will skyrocket, and then they do not, and then all of my money is just sitting there not making more money.

Then, recently, a podcast that I listen to said "I never tell anyone to invest in stock, but Adobe is going to be the next huge stock" just to hear news, after I bought, that Google has created something that will put Adobe out of business and to watch the stock fall again.

I mean, in theory, I agree with you.

In reality, I have lost so much money on this stock.

Casual users have other tools at their disposal now. Agencies and other professionals use Figma as the industry standard now. Only product that seems useful is Adobe stock library which enterprises who dont want to deal with ai generated content copyright legal stuff use. AI agents will impact saas more as they mature. You can buy adobe shares and maybe youll get a slow recovery but also think about the missed opportunity costs. I speak from experience holding pypl and finally cutting it loose to buy into better growth stocks in the ai space

I used to buy Lightroom and newer versions when they were released and didn’t think anything of it. Then they switched to subscription and I never purchased it again. Not sure what you make of that because I’m one guy but yeah never needed to go back.

I just don’t see where they grow from this point.

I don’t think Adobe is a bad buy at these levels for a 30-50% return, I don’t think we’ll ever hit the highs of 600-700 again, but I could see 350-400 if earnings steadily grow, one thing I really like is the buybacks at these levels, management over the last quarter allocated $2.5B to repurchases, and seeing as a Adobe’s share price has been between $260-225 this quarter it’s much more accretive, there recent 10-Q disclosed 404.2m shares outstanding, I think management will buyback another 10-12m shares this quarter. Net cash position, Fcf hit $10b annually, and revenue growth reaccelerated to 12%, if revenue grows and ARR is growing faster than the 10.2% figure management put for guidance for FY26 then I’d be happy, also Adobe Express is gaining traction from what’ve seen and FireFly’s IP indemnification/protection is very strong. Most people say Firefly is shit but it seems to be improving capability wise.

It’s never undervalued people hate the company and it’s products

Nah, I don't think they survive AI