Buy ADBE by Sep 14, 2026.

Adobe ( $ADBE ) just reported a **double beat,** **raised guidance**, but *dropped \~10% * A *12% FCF yield,*means the market is assuming not just slower growth, but actual permanent structural decline. I work in creative land and was buying around $250, but at \~$205 now I'm backing up the truck. I've been doing research and [free deep dives](https://open.substack.com/pub/durableinvesting/p/why-im-backing-up-the-truck?r=8iygzz&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true) and expected to find a value trap but came away leaning strongly the other way. I spoke personally with plenty of …