A 6.13% drop in market value probably wasn’t what Adobe (ADBE) had in mind when it announced an expanded partnership with Alphabet’s (GOOG, GOOGL) Google Cloud to deliver the next generation of artificial-intelligence-powered creative technologies. Still, contrarian speculators may have an enticing opportunity on their hands.
According to a press release, at Adobe Max — the world’s largest creativity conference — the two tech giants announced the partnership, which will bring together Adobe’s decades of creative expertise with Google’s advanced AI models to usher in a new era of creative expression. However, investors were mostly skeptical, sending ADBE stock sharply downward.
