Shares of creative software kingpin Adobe (NASDAQ: ADBE) have been feeling the full force of the market's latest leg lower. Undoubtedly, the pain was amplified due to the Figma deal that investors (and certain designers) immediately soured on. Since the deal announcement, the stock has shed around 25% of its value. Worse, shares are off about 60% from their all-time highs of about $700 per share. The real question on investors' minds is whether or not shares are undervalued. I think they are amid the market's overreaction to higher interest rates and the sticker shock from the Figma deal, which, I believe, will blow over.
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Adobe (NASDAQ:ADBE)
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