Adobe and the AI Fears: Why People Keep Misreading It

Adobe is going through a familiar cycle: a new technology shows up, investors panic, and the stock gets punished. Right now, that fear is AI. The narrative is simple: “AI will replace Photoshop, so Adobe is finished.” But Adobe is far than Photoshop, and the fears don’t match the reality of the business. The stock has been crushed by sentiment, not fundamentals. Here’s why the panic doesn’t make sense. The Fear: AI Will Disrupt Adobe’s Core Tools From the outside, Adobe looks like a bundle of creative apps - Photoshop, Illustrator, Premiere, and more.