Adobe stock (ADBE) slips as AI disruption fears hit software names; PCE report and earnings call ahead
Adobe shares fell 1.4% to $260.33 Tuesday, tracking a broader selloff in software stocks as AI disruption fears resurfaced. The S&P 500 software index also dropped 1.4%, with CrowdStrike down 5% and Salesforce sliding as much as 5%. Investors await the Feb. 20 PCE inflation report and Adobe’s earnings call on March 12.