Strengthening its defensive moat by integrating AI assistants into Acrobat to retain users within its professional workflow ecosystem.

Noted for positive movement within the software sector.

Stock has declined 26% amid fears that Generative AI will disrupt the software industry and lower barriers to entry.

Part of the traditional SaaS sector facing year-to-date declines and questions over terminal value in an AI-driven market.

Underweight recommendation as 'old' software faces pressure to increase spending to stay competitive.

Impacted by market concerns that AI will replace traditional software functions, leading to sector-wide valuation pressure.

Identified as a key platform that integrates generative AI capabilities into professional workflows; however, AI tools are lowering the barrier to entry for professional design.

Cautioned as an 'abundant' asset whose software moats are at risk from AI replication.

Part of the SaaS group being punished for lack of immediate AI acceleration.

Facing immediate market disruption and stock price drops due to the launch of AI design capabilities from competitors like Anthropic.