Adobe Stock Tumbles 12% Amid Concerns Over AI Revenue Delays
TL;DR Summary
Adobe shares dropped significantly in premarket trading after the company issued a revenue outlook that fell short of Wall Street expectations, forecasting current-quarter sales between $5.63 billion and $5.68 billion, below the consensus of $5.72 billion. The stock, which has been under pressure partly due to concerns over AI integration, is now trading within a rising wedge pattern. Key support levels to watch are $500, $475, and $440, while resistance areas are around $565 and $635.
Topics:business#adobe#artificial-intelligence#finance#revenue-outlook#stock-market#technical-analysis
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- Adobe Shares Plummet 12% After Lowering Outlook—Despite Record Revenue Forbes
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