You can see the complete list of today’s Zacks #1 Rank stocks here. While Palo Alto Networks and NVIDIA sport a Zacks Rank #1 (Strong Buy) each, AME carries a Zacks Rank #2. Some other top-ranked stocks in the broader technology sector are Palo Alto Networks ( PANW Quick Quote PANW - Free Report), NVIDIA ( NVDA Quick Quote NVDA - Free Report) and AMETEK ( AME Quick Quote AME - Free Report). Zacks Rank & Other Stocks to ConsiderĬurrently, Adobe carries a Zacks Rank #2 (Buy). Growing prospects in this market are expected to instill investor optimism in the stock.Īdobe has gained 42.3% on a year-to-date basis, outperforming the industry’s growth of 37.9%. We note that all these endeavors are likely to strengthen Adobe’s presence in the booming generative AI space.Īccording to a report from The Brainy Insights, the market for generative AI is expected to reach $188.62 billion by 2032, seeing a CAGR of 36.1% between 20. Moreover, the innovative Sensei GenAI services will now be integrated across Experience Cloud applications like Customer Journey Analytics, Experience Manager, Journey Optimizer and Marketo Engage. Notably, Sensei GenAI services are now capable of aiding a co-pilot for marketers and other customer experience teams to boost productivity. The latest Firefly-Illustrator integration boosts Adobe’s generative AI efforts.Īpart from that, the company recently announced generative AI innovations in Adobe Sensei GenAI at Adobe Summit EMEA 2023. Also, net new annualized recurring revenues (ARR) in the Digital Media segment are projected to be $420 million. Creative ARR was $11.3 billion.įor second-quarter fiscal 2023, Adobe expects Digital Media revenues in the range of $3.45-$3.47 billion. Further, Creative Cloud generated $2.76 billion in revenues, up 8% year over year. In first-quarter fiscal 2023, the segment generated revenues of $3.4 billion, which improved 9% on a year-over-year basis. The latest move has bolstered the company’s Creative Cloud offerings, which, in turn, are likely to aid the performance of the Digital Media segment in the days ahead.
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