Adobe (ADBE) is trading down 2.25% at $273.43 as the decline mirrors a broader tech sell-off across the NASDAQ, fueled by fears of a 'SaaSpocalypse' related to Alphabet's AI spending and new tools from Anthropic.
- The stock's movement reflects widespread tech sector weakness, mirroring the NASDAQ's 1.07% drop during the open market session.
- Looking ahead, analysts anticipate upcoming earnings to show an EPS of $5.88, representing a year-over-year increase of 15.75%.