Adobe CEO Says Stock Undervalued as Markets Focus on Chips

Adobe Inc. Chief Executive Officer Shantanu Narayen said his company is being undervalued as Wall Street focuses on chips and AI training infrastructure.

“There’s a question about software at large, which I think is misunderstood when you look at how profitable we are and the growth prospects we have,” Narayen said in an interview with Bloomberg Television ahead of Adobe’s annual product conference. Eventually the market focus will shift to the delivery of artificial intelligence within applications, where the company thrives, Narayen added.