Adobe (i) – solid fundamentals and the AI transformation as an opportunity: For me, a clear hold title!

I remain on board with Adobe , and the recent figures confirm my confidence. The company delivered a record quarter, surpassed one billion monthly active users, and – particularly important to me – achieved a record high in operational cash flow. This is the definition of a healthy, profitable business. Sure, the outlook for the final quarter was a bit too cautious and fuels concerns that young AI rivals are nibbling at Adobe's core business. However, the recurring revenues from AI products are growing by over 150% – Adobe is not just defending...