- Cloud computing to give edge to Adobe Inc.
- The latest team targeted for layoffs.
- Prices fell about 2% during the day.
In the last month of 2022, Adobe Inc. (NASDAQ: ADBE) has cut nearly 100 jobs, most of them from the sales team. In contrast to layoffs, in September 2022, the company laid off nearly 27,000 people. The company has cut a small portion of its workforce, related to layoffs in the technology industry.
Adobe Inc. and its subsidiaries operate as a diversified software company worldwide. The company offers products and services that work directly with manufacturers and users of technology. One of the popular products offered by Adobe is the cloud environment.
The cloud computing industry will be booming in 2023. Cloud computing trends are popular in areas such as application software and infrastructure, business processes and technology infrastructure. A craze has already begun to build to fuel Web3 adoption.
Semiconductors can have an impact on the company
Semiconductor manufacturing companies saw a drop in profits as key hardware products were sold off. Companies are trying to get into embedded and application-compatible software to respond to the change.
According to recent reports, pressure on Chinese chip manufacturers will increase after President Joe Biden received international support for restricting the flow of advanced technology.
Turmoil in the chip industry will create threats and opportunities for application manufacturers. If the chip war continues, the technology industry will be bound to find other ways to keep up. The emerging trend may face a setback due to poor infrastructure.
ADBE stock price analysis
ADBE stock prices have formed a downward trend, current prices are trying to break this trend. Prices tested the $319.00 support several times. The volume shows emerging buyers to accumulate future rallies. The 50-EMA lies below the price movement. If current prices can break out of $372.70, a bull run up to $434.62 could be established.
The MACD records bullish bullish bars while the lines break down into bulls in the region above the zero-histogram mark. The RSI is hovering near the ceiling range of 60-70 indicating a bullish dominance. The analysis suggests that prices will face a continuous increase despite all the difficulties in the technology industry.
The conclusion
The software company, Adobe Inc., may see a price increase thanks to possible improvements in the technology industry and the growing cloud trend. Managers should watch out for an exit near $372.70. ADBE shares are considered unsuitable for long-term investment.
Technical standards
Support levels: $319.00 and $275.20
Resistance levels: $400.00 and $442.00
Disclaimer
The views and opinions expressed by the author, or any persons mentioned in this article, are for informational purposes only, and do not constitute financial, investment, or other advice. Investing or trading in crypto assets comes with the risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies encourage people to become their own banks and break away from traditional currency exchange systems. He is also fascinated by blockchain technology and its functionality.
