Adobe Stock Plunges 14% as Weak Forecast Raises Growth Concerns Over AI Offerings

Adobe stock plunged 13.7% on Friday after weaker-than-expected quarterly guidance, dragging down other software stocks
Investors are concerned about slowing growth and lack of monetization from Adobe's AI innovations
Adobe missed estimates for annualized recurring revenue in its Digital Media segment
Analysts say Adobe's generative AI products are still early with monetization more likely in 2024-2025
Adobe executives say new products and generative AI offerings coming later this year, pricing schemes still being refined