NEW YORK, January 4, 2026, 18:00 ET — Market closed
- Adobe shares fell 4.77% on Friday to close at $333.30. 1
- The stock last traded at $334.59 in after-hours activity late Friday. 2
- Adobe’s next scheduled catalyst is its Q1 FY2026 earnings call on March 12, the company’s events calendar shows. 3
Adobe shares fell 4.8% on Friday to close at $333.30, sharply underperforming a modestly higher U.S. market. The stock last traded at $334.59 in after-hours dealings late Friday. 1
The decline pulled Adobe back toward the $330 area after it ended 2025 at $349.99, according to Nasdaq historical data. With U.S. markets shut through the weekend, the drop sets the tone heading into Monday’s reopening. 1
The move matters now because investors are still weighing whether Adobe’s generative AI — artificial intelligence that produces images and other content from text prompts — can lift subscription growth without denting profitability. The next major checkpoint is March 12, when Adobe is scheduled to hold its Q1 FY2026 earnings call, its investor relations site shows. 3
Adobe traded as high as $351.12 and as low as $331.64 on Friday, before finishing near the bottom of the day’s range. The session drew roughly 5.6 million shares of volume, Nasdaq data showed. 4
The slide came even as the S&P 500 gained 0.19% and the Dow Jones Industrial Average rose 0.66% on Friday, MarketWatch data showed. Design-software peer Autodesk fell 3.14% in the same session. 5
Adobe last gave investors a firm update in December, when it forecast fiscal 2026 revenue of $25.90 billion to $26.10 billion and adjusted earnings per share of $23.30 to $23.50, Reuters reported. CFO Dan Durn told Reuters: “We’re seeing significant strength in Creative Cloud Pro, Photoshop, Lightroom,” pointing to gains from embedding generative AI into those products. 6
The company has also been pushing to meet users where they work as chat-based interfaces spread. Adobe said in December it would integrate Photoshop, Adobe Express and Acrobat into OpenAI’s ChatGPT, letting users edit images, design graphics and manage PDFs within the chatbot. 7
Investors will be watching for proof that those initiatives translate into steadier recurring revenue, the subscription-driven base that typically supports software valuations. Adobe said it would reshape reporting from fiscal 2026 to emphasize subscription revenue and annual recurring revenue, Reuters reported. 6
But the downside case remains clear: if customers shift creative work to cheaper, AI-native tools or if competition forces heavier discounting, Adobe’s margins and growth narrative could take another hit. A break below Friday’s $331.64 low would also leave the stock vulnerable to further technical selling, given how quickly it fell through the mid-$340s. 4
U.S. stock markets reopen on Monday, with Adobe starting the week near the $330 level after Friday’s selloff. The next set-piece catalyst is the company’s March 12 earnings call, where investors will look for updates on AI monetization and any change to Adobe’s 2026 targets. 3
