2. Adobe
Adobe is a leader in the document cloud market. Based on one of the analyst forecasting results, this is a lucrative segment and Adobe is expected to reach around $21 billion in 2023 and roughly $32 billion in 2024. Adobe is the industry leader in a $205 billion market that's growing at over 20% per year, which analysts think could drive 16.5% returns for many years, or even decades to come.
Adobe is one of the best growth stocks in history. Also, Adobe is a highly diversified global giant with 51% of its sales from the US, 27% from Europe and the Middle East, 16% from Asia and 6% from others.
In addition, Adobe repurchased almost 1% of shares at an average price of $553 in Q1 FY22. "These share repurchases are part of the previously announced program, under which we currently have $10.7 billion remaining of our $15 billion authorization that was granted in December 2020 and goes through 2024." - Adobe CFO. This showed a promising future and guaranteed potential from the company’s management. Many analysts also recommend a “BUY” rating for Adobe.
Adobe’s highest stock price in history was USD 699.54 per share (22th November 2021) and it is currently trading at USD 376.92 (16th of June 2022). Approximately 50% difference from the all time high.
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