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Technology Stocks : Adobe (adbe) opinions

ADBE 355.77

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Dec 18 3:59 PM EST

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To: Jeffrey D who wrote (1660)	9/17/1997 1:41:00 AM
From: earthling	of 3111

My guess is that Adobe's unexpected revenue surge in August was the result of Apple's announcements during the first week of that month. A lot of graphic artists were thinking that Apple was on the verge of imminent collapse and consequently were shy to lay out money for their application purchases and upgrades. Whether or not the Jobs deals actually "saved" Apple, it seems likely that a lot of people figured on the basis of the new board and the Microsoft investment that Apple would not collapse just yet, so they went back to business as usual and spent their money. My guess is that the increased relative comfort of Mac users will give Adobe a strong fall season. I personally think the whole drag on Adobe's stock has been Apple and will continue to be Apple for a long time. When things look good for Apple will be a good time to sell Adobe. The dampening effect will be at its weakest when people feel OK about Apple. Then you buy back in again when the mood sours because of renewed crisis at Apple. Ultimately (5 year time frame) Adobe will weather any Apple problems, so it's good to "buy on the bad news" (not right away, but a few days after the really bad announcements, when they've had their full effect--that's when to jump in). Always remember that the graphics market ain't going away, and Adobe is the graphics market leader. Adobe is a stable and well managed company, but until Apple finally collapses, its problems will repeatedly spoil things for us Adobe stockholders, because the Apple-owning graphic artists always freeze up for a while when they think Apple is in trouble, and when they freeze up Adobe gets a bad quarter. Remember: This is California, so watch out for falling objects!

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