Buy ADBE by Dec 17, 2026.

The trade is pretty simple: MU has become the AI momentum play, while ADBE has been left for the short. I think that gap can reverse. ADBE has been crushed on the fear that AI will destroy its moat. But underneath the stock price, Adobe is showing real AI traction — growing ARR, strong recurring revenue, and rapidly growing monetization of Firefly and its AI products. Meanwhile, MU is putting up incredible numbers. That’s not the problem. **The problem is …