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faces persistent downward pressure as AI-driven competition from Figma and Canva accelerates.
Adobe's valuation has dropped to just over 10x forward earnings, a significant decline.
KEY POINTS
- AI-driven competition from Figma and Canva is accelerating, directly impacting Adobe's growth multiples.
- Management uncertainty has increased with CEO Narayen's exit and unresolved margin sustainability questions.
- Adobe's ability to monetize AI remains unclear, contributing to ongoing investor skepticism.
COMPANIES
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