Buy ADBE by May 12, 2026.

**Disclaimer:** I used AI to make my points more structured. **TLDR:** The narrative is that Generative AI (Midjourney, Sora) renders Adobe obsolete. The financials tell a different story. Adobe is a "Digital Landlord" with 89% gross margins and a moat built on professional workflows, not just image generation. While the market panics, management is executing a "Cannibal" strategy, buying back 6% of the float in a single year. You are getting a monopoly at \~16x earnings because of a fear …