New York, February 22, 2026, 14:29 EST — The market has closed.
Adobe finished Friday at $258.61, slipping 0.23% for the day. Shares touched $254.36 at session lows. That puts the stock roughly 2% lower than a week ago, and off about 26% from where it closed on Dec. 31.
The broader market went in the opposite direction. U.S. stocks finished up after the Supreme Court overturned President Donald Trump’s global tariffs. Trump responded, saying he would substitute the emergency tariffs with a 10% global tariff, set to last 150 days. “Today is a removal of some uncertainty,” said Mike Dickson, who leads research and quantitative strategies at Horizon Investments. Reuters
Software stocks remain under pressure. Reuters dubbed the sector the “AI scare trade,” a nod to investors bailing on companies they worry could lose out as AI tools advance quickly. Barclays strategist Emmanuel Cau summed it up: fear’s got people hitting “sell first think later.” Reuters
Adobe insists AI is working in its favor, not against it. Back in December, CFO Dan Durn told Reuters that Creative Cloud Pro and major apps were showing “significant strength” as Firefly rolled out. The company put out a fiscal 2026 revenue forecast: $25.90 billion to $26.10 billion. Reuters
Next, enterprise software budgets go under the microscope. Workday will deliver its latest numbers after the bell on Tuesday, Feb. 24.
Salesforce is up next, set to report after the bell on Wednesday, Feb. 25. What the company says about customer spending often moves the broader software sector—regardless of whether rivals are in the same business.
Nvidia’s earnings are set for Feb. 25, the company confirmed, and the release has turned into a closely watched event for markets. Investors increasingly treat the report as a barometer for the strength of the AI spending cycle.
This time, the downside looks unusually clear-cut. Fresh tariff chatter or fading rate-cut hopes could push the market to squeeze software names even tighter. That leaves Adobe vulnerable—a drop driven by mood, not fundamentals, is all it might take.
Adobe’s next major test comes with its quarterly results, likely landing around March 12, according to earnings trackers like MarketBeat. Official confirmation from the company is still pending. Wall Street’s focus: annual recurring revenue (ARR), the key subscription metric, and whether Firefly’s new features are actually moving users into paid tiers rather than just driving engagement.
