ADBE undervalued after strong earnings, AI fears overblown
The author argues Adobe beat revenue and earnings and grew subscribers, demonstrating that AI has not disrupted its business, yet the market sold off a software company trading at a P/E of 14. The implied mechanism is that the market is mispricing ADBE given resilient fundamentals, so the disconnect should correct as results are recognized. The stated risk is a market the author calls a 'clown show' that keeps selling good results.