Jim Cramer’s Bold Predictions About These 12 AI Stocks

6. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Holders In Q3 2024: 123

Date of Cramer’s Comments: 09-06-24

Performance Since Then: -22.7%

Adobe Inc. (NASDAQ:ADBE) is a productivity software company. Since Cramer’s remarks, the stock is down by a whopping 22.7%. Two major drops are the reason behind Adobe Inc. (NASDAQ:ADBE)’s poor share price performance. The first of these saw the shares sink by 13% in September after the firm’s fiscal Q3 earnings saw it guide midpoint Q4 revenue at $5.525 billion which was below analyst estimates of $5.61 billion. Adobe Inc. (NASDAQ:ADBE)’s EPS also missed the mark, with the shares tumbling by another 14% in December when its 2025 revenue guidance of $23.30 billion and $23.55 billion missed estimates of $23.78 billion. Here’s what Cramer said in September:

“Adobe reports after the close. We’ve had three positive analyst notes ahead of this quarter, which is extremely bullish. Against that, of course, is the fact that Adobe is a tech company with an AI component, which is now suddenly “guilty until proven innocent”—a complication to an otherwise magnificent story. That said, I sense this should be a good result for the bulls, given that the analysts are promoting it so aggressively ahead of the quarter.”