On July 29, Adobe rose 3.34% in regular trading, trading at $258.00/share, with turnover of $228 million. The stock continued its multi-day rally alongside the broader AI application software sector.

On the news front, the AI application software sector has sustained a collective upward trend in recent sessions. SAP's second-quarter cloud revenue reached EUR 6.28 billion, exceeding market expectations, which significantly lifted sector sentiment and drove Adobe higher in tandem. Additionally, multiple investment banks have recently issued positive ratings: CLSA assigned Adobe an \"outperform\" rating with a $300 target price, arguing that AI fully replacing traditional software is unrealistic and that Adobe's ecosystem moat retains defensive value; HSBC upgraded Adobe to \"buy\" with a $308 target price, noting that generative AI has not yet materially impacted Adobe's business and that the market has exaggerated AI competitive threats. Morgan Stanley also published a report stating that prior pessimistic expectations for the software sector were already sufficiently priced in, maintaining a positive outlook on the space. Sector momentum combined with investment bank endorsement continued to support the stock's advance.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)