Adobe expands in AI

Article Excerpt

ADOBE INC., $485.25, is a #1 Power Buy for your 2024 investing. The company (Nasdaq symbol ADBE; TSINetwork Rating: Average) (www.adobe.com; Shares outstanding: 448.0 million; Market cap: $217.4 billion; No dividends paid) is now buying videos from its network of photographers and artists to build its artificial intelligence (AI) text-to-video generator. It aims to catch up to competitors—OpenAI’s video-generation model Sora is the current segment leader. Over the past year, Adobe has focused on adding generative AI features to its portfolio of software for creative professionals, including Photoshop and Illustrator. It has released tools that use text to produce images and illustrations, which have been used billions of times so far. With an already-strong position in its key markets, Adobe’s sales should rise even higher in the future through its continuing adoption of AI-generated tools for its new and existing software. Adobe is a #1 Power Buy for 2024. 2024…