adobe

История Adobe: как компания изменила дизайн, креатив и цифровой бизнес
Краткое описание
Adobe — это компания, которая сформировала современный цифровой мир: от печати и PDF-документов до дизайна, видео, маркетинга и облачных сервисов. История Adobe — пример того, как технологическое видение способно изменить целые индустрии.
История компании Adobe
Компания Adobe была основана в 1982 году в Калифорнии Джоном Уорноком и Чарльзом Гешке — бывшими исследователями Xerox PARC. Название Adobe происходит от ручья Adobe Creek, протекавшего рядом с домом Уорнока. С самого начала компания сфокусировалась на решении ключевой проблемы того времени — точной передаче текста и графики между компьютерами и печатными устройствами.
Революция PostScript
Первым прорывом Adobe стал язык описания страниц PostScript. Он позволил одинаково точно отображать документы на экране и при печати, что произвело революцию в издательском деле. Благодаря партнерству с Apple технология PostScript легла в основу настольных издательских систем и сделала Adobe ключевым игроком в полиграфии.
Рождение цифрового креатива
В конце 1980-х и 1990-х годов Adobe выпустила продукты, которые стали стандартами индустрии:
Photoshop — для обработки изображений
Illustrator — для векторной графики
After Effects — для анимации и видео
InDesign — для верстки и издательства
Эти инструменты определили профессию дизайнеров, фотографов и видеомонтажёров на десятилетия вперёд.
Формат PDF и универсальные документы
В 1993 году Adobe представила формат PDF (Portable Document Format). Он решил глобальную задачу — универсальный формат документов, который одинаково открывается на любых устройствах. Сегодня PDF используется в бизнесе, государственном секторе, образовании и юридической сфере по всему миру.
Переход в облако
В 2013 году Adobe сделала стратегический шаг, отказавшись от продажи коробочных лицензий и перейдя к подписочной модели Creative Cloud. Это решение сначала вызвало споры, но в итоге обеспечило компании стабильный рост, регулярные обновления и масштабируемость.
Adobe сегодня
Сегодня Adobe — это не только креативные инструменты, но и мощная экосистема для цифровой экономики:
Creative Cloud — дизайн, видео, UI/UX
Document Cloud — PDF, электронные подписи
Experience Cloud — аналитика, маркетинг, персонализация
Компания активно развивает ИИ-технологии, включая Adobe Firefly, интегрируя искусственный интеллект в креативные и бизнес-процессы.
Итог
История Adobe — это путь от узкой технологической идеи до глобальной цифровой платформы. Компания не просто создавала программное обеспечение, а формировала стандарты, профессии и новые рынки, став фундаментом современной креативной и цифровой индустрии.

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Investor confidence in Adobe on Wall Street is rapidly fading. Analysts are more skeptical about the creative-software giant than at any point in the past decade, mainly due to growing doubts about whether the company can keep pace in the fast-moving era of artificial intelligence.
Investment bank Oppenheimer downgraded Adobe shares on Tuesday to a “perform” rating. This move is part of a broader wave of downgrades reflecting rising concerns over competition—particularly from players like OpenAI, which allow users to generate images and videos simply by typing text, without the need for professional creative tools.
As a result of these negative revisions, Adobe’s consensus analyst rating has fallen to 3.91 out of 5, its lowest level since 2013. This metric reflects the balance of analyst recommendations to buy, hold, or sell the stock.

Slowing Growth, Competitive Pressure, and Margin Concerns
Oppenheimer analyst Brian Schwartz outlined several headwinds that he believes will weigh on Adobe’s stock this year. These include a challenging business environment as companies increasingly shift toward AI-driven technologies, leading to weak and steadily slowing revenue growth. He also pointed to underwhelming product rollouts, doubts about the true strength of Adobe’s competitive position, reduced investor appetite for software stocks, and an expected decline in profit margins compared with last year.

Stock Performance Lags Far Behind the Tech Sector
Adobe’s share performance has significantly underperformed the broader technology market. The stock fell 2.6% on Tuesday and was down 6.4% year-to-date through Monday. This follows declines of more than 20% in both 2024 and 2025. Since the end of 2023, Adobe shares have lost over 45% of their value.
By comparison, a fund tracking software companies has gained nearly 30% over the same period. Companies viewed as winners of the AI boom—such as Microsoft, Oracle, and Palantir Technologies—have also performed strongly. The Nasdaq 100 index has surged by more than 50%, largely driven by the so-called Magnificent Seven stocks.

SaaS Sector Under Pressure From AI Startups
Software-as-a-service companies are facing growing investor skepticism. The concern is that AI-focused startups will offer cheaper, more accessible alternatives, siphoning customers away from established software providers and undermining long-term growth prospects.
Oppenheimer was not alone in cutting its outlook on Adobe in January. BMO Capital Markets downgraded the stock to “market perform,” citing intensifying competitive pressure in the creative-software market and a lack of positive catalysts. Jefferies had previously lowered its rating to “hold,” noting that there has been no clear uplift in revenue from AI so far. Growth has been slowing since fiscal year 2023, with early projections pointing to continued weakness into fiscal year 2026.

Goldman Sachs: AI Changes the Rules
Gabriela Borges of Goldman Sachs initiated coverage of Adobe on January 11 with a “sell” rating, reversing the firm’s previous “buy” stance. She wrote that while Adobe has historically navigated technological shifts well, artificial intelligence represents a fundamentally different disruption. By making design tools accessible to everyone, AI reduces the need for professional-grade software like Adobe’s.

Canva Emerges as a Major Threat
BMO also cut its price target for Adobe shares from $400 to $375, emphasizing that valuation is not the core issue. Instead, the main concern is intensifying competition. BMO now ranks Adobe at the bottom of its software coverage universe, while favoring rivals such as Salesforce and HubSpot.
Survey data reinforces these concerns. More than 50% of students now use Canva instead of Adobe. Nearly half of freelancers rely primarily on Canva, compared with only about 10% who use Adobe exclusively. More than half of respondents reported using both tools, a troubling sign given Adobe’s former dominance.
Canva is also expected to go public in 2026 or 2027, a move that could further increase pressure on Adobe. Canva’s shares have declined by roughly 20% over the past year, underperforming the broader software sector—and signaling that competition in the creative-software market is only set to intensify.

#WallStreet , #Adobe , #AI , #stockmarket , #Investing

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