Norwegian Billionaire Halvorsen’s Top 10 Stock Picks

2. Adobe Inc. (NASDAQ:ADBE)  

Viking Global’s Q3 Stake: $1.35 billion

Number of Hedge Fund Holders: 123

Adobe Inc. (NASDAQ:ADBE) is a global leader in software development, renowned for its cutting-edge digital media solutions. Its flagship products, such as Photoshop, Acrobat, and Adobe Creative Cloud, are indispensable tools in creative industries and businesses worldwide.

Earlier this October, Adobe Inc. (NASDAQ:ADBE) unveiled new beta features for Premiere Pro at the Adobe MAX conference in Miami Beach. These enhancements, powered by the Firefly Video Model, leverage generative AI to streamline workflows for video professionals. On December 2, DA Davidson reiterated its Buy rating for Adobe Inc. (NASDAQ:ADBE), citing the company’s strong margin profile, extensive scale, and the growth potential unlocked by its focus on artificial intelligence.

Moreover, Adobe Inc. (NASDAQ:ADBE) achieved a strong revenue in Q3 2024, reporting $5.41 billion, an 11% year-over-year increase, along with over $2 billion in cash flows. The Digital Media segment grew by 11% year-over-year, while the Digital Experience segment posted a 10% increase. The company’s management remains optimistic about sustained growth, highlighting the expansive markets the company continues to drive forward.