On July 20, Adobe fell 3.36% in regular trading, trading at $229.92/share, with turnover of $117 million. The decline comes as a string of bearish reports from major investment banks continues to weigh on any recovery attempts.

BNP Paribas issued a report on July 15 warning that cloud giants are using AI-native tools to dismantle Adobe's full-process competitive moat. Earlier, Bank of America resumed coverage with an Underperform rating and a $190 target price, arguing that AI is continuously eroding Adobe's growth momentum and that near-term acceleration is unlikely. Although the software sector briefly rebounded on July 17 after digesting IBM's disappointing preliminary results, the concentrated bearish signals have capped Adobe's upside, pushing the stock back into decline.

For context, Adobe's stock has fallen approximately 37% year-to-date. While HSBC upgraded the stock to Buy with a $308 target on July 2, citing that AI design tool threats are overstated, the subsequent wave of downgrades from BNP Paribas and Bank of America has clearly overwhelmed any bullish momentum.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)