|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||66.68 - 68.58|
|52-week range||38.40 - 98.29|
|Beta (5Y monthly)||1.75|
|PE ratio (TTM)||0.68|
|Earnings date||31 Oct 2023 - 06 Nov 2023|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Adobe (NASDAQ: ADBE) and Roku (NASDAQ: ROKU) fall into this category of software stocks that would leave a significant gap if they suddenly didn't exist. Adobe has built a strong position in the creative software space, and its most recent quarterly results prove that there's still plenty left in the tank. The company's revenue from its two largest business segments -- Digital Media and Digital Experience -- soared higher, helping Adobe reach record third-quarter sales of $4.9 billion.
While investors may be distracted by the myriad challenges facing businesses of all sizes due to the hype around artificial intelligence (AI) and the possibility of a new bull market, make no mistake -- challenges still linger. The S&P 500 index and Nasdaq Composite Index are up over 10% and 25%, respectively, so far in 2023. Several companies, especially in Big Tech, resorted to layoffs in an effort to curb bloated expense profiles and return to a path of profitability, while for some, revenue growth has slowed.
Tech stocks have delivered a banner performance this year. Multiple factors, including excitement about artificial intelligence (AI), a rebound from last year's sell-off, and resilience in the economy steering away from a recession, all drove the Nasdaq Composite higher. While tech stocks have pulled back more recently, there are still some great buys available on the market right now.