Adobe: Up 30%, But I'm Waiting For A Dip Below $250

Oliver Rodzianko 7.25K Followers Follow Summary Adobe has delivered a 30% gain since my 2026 buy rating a few months back, but I am waiting for the next earnings report before reallocating capital. Despite ADBE's attractive forward PEG ratio of 0.78, broader market overextension and high correlation with NDX/SPX warrant caution. I expect ADBE to decline alongside the Nasdaq and S&P 500 if a market correction occurs, especially if triggered by Fed rate hikes. Technical analysis and market sentiment outweigh fundamentals in timing entry points for ADBE, despite its strong underlying metrics. wragg/E+ via Getty Images Since my last Adobe ( ADBE ) analysis , the stock has gained 1% in price, but since my initial 2026 Buy rating , the stock has gained a very nice 30% in less than three months. I have This article was written by Oliver Rodzianko 7.25K Followers Follow Oliver Rodzianko is Director of Invictus Origin and a private investor managing a high-alpha portfolio strategy focused on rotation and disciplined cash deployment during market dislocations. Analyst’s Disclosure: I/we have a beneficial short position in the shares of SMGB; QQQM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.