ADBE → $300.00 by Sep 10, 2026.

I’m not going to rehash the qualitative discussion here. It’s already been discussed extensively in this sub, almost to the point of becoming spam. If you’ve been following the conversations, the key points should be hard to miss. And if you somehow missed them, you may have been living under a rock. So here's my back-of-hand valuation with assumed inputs -- # Four scenarios |`Scenario`|`Rev growth path`|`Op margin`|`Terminal ROIC`|`WACC`|`Value/share`|`Prob`| |:-|:-|:-|:-|:-|:-|:-| |`Bear: AI hollows the core, ARR stalls, pricing erodes`|`6%→1%`|`→30%`|`14%`|`10.5%`|`~$180`|`30%`| |`Base: …