5 Most Undervalued AI Stocks to Buy According to Hedge Funds

3. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Holders: 86

Forward P/E: 10.29

On April 20, 2026, CNBC reported that Adobe Inc. (NASDAQ:ADBE)’s Chief Executive Officer, Shantanu Narayen, in an interview, said he plans to step down after nearly two decades leading the company. He framed the decision around strategy execution as artificial intelligence reshapes software. He told CNBC that “it was really important that we got our strategy in place” and that he feels “really good about the strategy” and innovation spanning Firefly models to enterprise tools.

Narayen pointed to quick technological change, telling CNBC that AI will “revolutionize how creativity happens” while expanding opportunities for creative and marketing software. He pushed back on concerns about disruption, stating “the bears have it all wrong,” and acknowledged the need to manage new interfaces and computing modalities.

Scale remains central, as Narayen said Adobe Inc. (NASDAQ:ADBE) now serves 70 billion profiles, processes 35 trillion transactions a day, and reaches about 850 million monthly users across Acrobat, Express, and Creative Cloud.

Adobe Inc. (NASDAQ:ADBE) is a global technology company operating through the following segments: Digital Media, Digital Experience, and Publishing and Advertising.