Shares of creative software developer Adobe (ADBE) have been on the receiving end of the latest tech dip, plunging by around 26% from peak to trough. Undoubtedly, unprofitable tech has taken a brunt of the damage, with some Cathie Wood holdings shedding over 50% of their value. Profitable, but expensive growth like Adobe hasn’t been spared. While it’s difficult to determine how much such incredibly profitable growth stocks will be dragged down alongside the speculative nosebleed-level plays, I do think the recent drawdown in Adobe seems a bit overdone. Unlike many red-hot stocks valued on a price-to-sales basis, Adobe has compelling cash flows, and a means to improve its margins.
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Adobe (NASDAQ:ADBE)
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