Adobe (ADBE) shares rose to $261.61 on February 18 as technology stocks recovered, signaling a potential shift in sentiment following a period of intense volatility. This rally follows a significant 25% year-to-date decline where the stock hit multi-year lows amid concerns over generative AI disruption.
- The recent gain reflects easing sector-wide fears regarding the commoditization of AI tools.
- HSBC recently adjusted its outlook, lowering the price target for the stock to $302 on February 13.
- Market attention is now shifting to the March 12 earnings report for clarity on whether Adobe's AI-first strategy is maintaining its competitive edge.