Adobe's (ADBE) share price has fallen 61.2% over the past five years. The article says that after new AI partnerships, including with BWT Alpine Formula One and NVIDIA, investors may consider whether Adobe's earnings support its current price. According to the article, Adobe trades at about 13.3x earnings, below the software industry average of roughly 33.8x and a peer group of around 48.2x. Based on a tailored fair P/E that reflects Adobe's growth, margins and risk, the article describes the stock as undervalued and says the market is not assigning a high premium to its AI efforts.
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