Recommending Adobe ( NASDAQ: ADBE) shares is an even more extreme contrarian undertaking. And there is nothing on the immediate horizon that suggests that this sentiment will not continue for some time. The preponderance of sentiment is focused on Fed dot plots, with a perspective that any kind of investment that involves future growth needs to sell at a highly compressed valuation. And they have completely thrown out any consideration of the super cycle that digital transformation and AI is providing demand. They are terrified about negative estimate revisions. Investors, with a dearth of evidence, or historical analogs are convinced that somehow the business outlook for software companies is highly correlated to the business cycle. Recommending any software names these days is a contrarian undertaking. Tim Boyle/Getty Images News What are the investment merits of Adobe at this point?
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