[sgbuffett]

Adobe is not a lousy company. It has a monopoly in picture and video editing.  Just like  Microsoft as monopoly on Microsoft Office. People are unlikely to switch and will keep paying.

Problem is the stock valuation.
Although it fell from 688 to 299 it does not make the stock "cheap" or a good buy for the long term.

The PE ratio is 29.
The cashflow is $6.5B..this is very solid and can drive acquisitions to consolidate its monopoly position.

Market cap is 140B.

If economy slows and revenues growth slows, the stock is worth buying only below $150.

If it can manage 10-20% growth $200.

I just don't see any reason to buy now especially is economy is slowing. It can go towards $150 more easily than it can go to $400.