Investors have technology stocks that fell the most in the last week to consider. Adobe Systems (ADBE), which is known for its free Adobe PDF software, closed below $400 for the first time in a year.
Adobe grew its revenue by 10.2% Y/Y to $5.71 billion to earn $5.08 in non-GAAP EPS. It bought back 7.0 million shares in Q1. Shareholders may not trust Adobe management for now. The firm bid for Figma, offering a premium, only to pay $1 billion in a break-up fee. Luckily, regulators indicated they would not approve the acquisition.
AI image and video generation are widely available. Creators may buy subscriptions for AI services and might cancel their Adobe creative suite subscription.
Intel (INTC) bounced from the $19.50 - $20.00 low, a pattern that started last August 2024. The company hired a new CEO that might reverse team blue’s missteps.
Markets nearly halved the share price of Marvel (MRVL) from nearly $130 to around $70. Demand for storage from Western Digital (WDC) and Seagate (STX) may fall as customers cut their AI spending. Sales for Marvell’s related technology may also decline.
Marvell is forecasting strong 800G PAM4 product demand. However, revenue from data center may decelerate. Momentum investors should avoid MRVL stock. Conversely, investors may start a position if MRVL stock falls by more. The stock still trades at a forward P/E of nearly 19 times.
