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Adobe's Optimistic Forecast For New AI Tech Infused Products Attract Investor Cheer, Stock Soars

Software giant Adobe Inc's (NASDAQ:ADBI) shares are trading higher in premarket on Friday. Adobe is poised to experience its largest stock surge in nearly four years, following an optimistic sales forecast for its creative products infused with new AI technology. This positive projection comes as Adobe reports a greater adoption of its innovative AI tools. For the third quarter, Adobe anticipates its digital media net new annual recurring revenue to hit $460 million, surpassing the average forecast of $435.2 million. Despite recent concerns among investors that generative AI technology might diminish its market share, Adobe's integration of AI into its flagship products appears to ...