- December 18, 2021
- Posted by: Stratford Team
- Category: Business
Adobe Inc., by all accounts, has had a tremendous year. But it is always amazing the difference a day can make, especially in this era of wild stock market volatility.
Following Federal Reserve Chairman Jerome Powell’s comments Wednesday, it appeared that the persistent pressure on technology and growth names was subsiding. However, the gains from his relatively dovish and positive commentary were wiped out Thursday.
On that day, Adobe
ADBE,
-2.63%
reported its fiscal fourth-quarter results before the bell, and investors didn’t like what they read. However, the market’s irrational exuberance and unrealistic expectations provide a material disconnect from eras in which strong earnings and guidance may have been followed with a jump in share price. Instead, a 10% sell-off was the reaction to what I thought was overall a strong quarter and a humble yet encouraging road ahead.
Adobe…
