NEW YORK, Jan 2, 2026, 18:14 ET — After-hours
- Adobe shares fell about 4.8% on Friday and were last at around $333 in after-hours trading.
- U.S. stocks ended mixed as chipmakers rallied but several megacap tech names weighed on the Nasdaq.
- Investors are watching next week’s U.S. jobs and inflation data, plus Adobe’s March earnings call and a January annual filing.
Adobe stock NASDAQ:ADBE fell 4.8% on Friday and last traded at $333.30 in after-hours trading, which takes place electronically after the 4 p.m. close in New York. The shares opened at $349.86 and traded as low as $331.67.
The drop left Adobe among notable laggards in big tech even as the Dow and S&P 500 ended higher on the first trading day of 2026, while the Nasdaq was little changed. “Investors might be a little bit more conscious about some of the valuations that they’re paying for some of the AI plays,” said Joe Mazzola, head of trading and derivatives strategy at Charles Schwab. Reuters
Treasury yields moved higher and trading volumes were light after the holiday, a combination that can pressure growth stocks whose valuations lean heavily on future earnings. The benchmark 10-year U.S. yield ended around 4.19%, Reuters reported.
Adobe’s slide also stood out against some software names, with Autodesk down 3.1% on the day while Oracle edged higher, MarketWatch data showed.
The pullback comes as investors continue to weigh how quickly Adobe can translate adoption of its Firefly generative-AI features into faster growth. In December, Adobe forecast fiscal 2026 revenue of $25.90 billion to $26.10 billion and adjusted profit of $23.30 to $23.50 per share, above Wall Street expectations, Reuters reported.
In its latest earnings materials, Adobe said it expects to file its annual report on Form 10-K in January, a document that typically includes fuller detail on risks and accounting assumptions.
For markets, the near-term test is the U.S. jobs report due Jan. 9, which is expected to show payrolls rose about 55,000 in December, according to a Reuters poll. A consumer price index report is due Jan. 13, and fourth-quarter earnings season begins to ramp up that week.
Adobe’s next scheduled company catalyst is its first-quarter fiscal 2026 earnings call on March 12 at 2 p.m. Pacific time, according to its investor events calendar.
On that call, investors will be looking for subscription momentum in Creative Cloud and Digital Experience, and clearer evidence that new AI features are lifting paid demand rather than just engagement.
Friday’s move underscored a familiar setup for software stocks: shifts in rate expectations can move valuations quickly, particularly for companies priced on long-term growth.
With no new Adobe-specific disclosures driving the tape, attention is likely to stay on macro data next week and any incremental detail in the company’s annual filing later this month.
