Adobe: The Margin of Safety Is Not Enough
Perhaps there are two key questions of investment: what to buy and
at what price? Software provider Adobe (ADBE) is a great business.
The company has maintained a double-digit growth rate for many
years, and its profitability is very high. I believe the growth
potential has not been exhausted yet. The Total Addressable Market
is quite large and growing. Adobe has a very strong positioning -
many of the company's products are rated by users as "default." In
addition, ADBE continues to dig up its competitive moat by buying
up smaller competitors that could pose a threat in the future.
However, in my opinion, the price is still high.
から 4 2022 まで 5 2022
から 5 2021 まで 5 2022