6月17日，Adobe盘中下跌3.09%，报202.45美元/股，成交额2.58亿美元。消息面上，高盛将Adobe目标价从220美元下调至190美元并维持"卖出"评级，摩根大通亦将目标价从420美元大幅下调至340美元，指出AI免费增值新策略成效仍需时间检验。
此轮抛压始于上周财报发布后，尽管Adobe二季度营收66.2亿美元同比增长13%、EPS超预期，但CFO Dan Durn于6月15日正式离职加入Marvell，叠加CEO纳拉延此前已宣布卸任，双重高管真空令市场对AI转型关键期的战略连贯性持续存疑。管理层明确表示免费增值策略将导致下半年新增ARR同比下降55%至60%，短期盈利承压预期尚未消化。
（以上内容均基于市场公开消息，由程序或算法智能生成，仅作为股价异动提醒，不作为投资建议或交易依据。）
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