Jim Cramer Discussed Adobe Inc. (ADBE) In Detail Ahead Of Its Earnings

We recently published 13 Latest Stocks on Jim Cramer’s Radar. Adobe Inc. (NASDAQ:ADBE) is one of the stocks Jim Cramer recently discussed.

Cramer has started discussing Adobe Inc. (NASDAQ:ADBE) frequently as the firm approached its earnings report today. The shares have lost 20% year-to-date, and in his previous comments, the CNBC TV host has commented that perhaps investor sentiment souring for software-as-a-service (SaaS) stocks is to blame. Here is what Jim Cramer said about Adobe Inc. (NASDAQ:ADBE) ahead of its earnings:

“Yes, and I kept hearing things about, well, if it’s a software-as-a-service system that we have, that would be Adobe. . . you know we’ve been able to develop programs that are very similar. We don’t need that anymore. And I was like, you’re kind of stunned, because you thought you heard that was going to happen but you never thought you’d expect the CEO say. And you know what, these are not as indispensable as we thought!.

“Look, I mean Adobe is one of these companies.  . .where they do this enterprise software for software-as-a-service and it has not been, obviously Adobe’s one of those poorly performing stocks. What’s incredible is no one ever says you know what, their stuff is not that good. Their stuff is fabulous. It’s a Lamborghini. It’s fantastic. I have the subscription to it, my daughter has a subscription to it, we love to play with it because it’s the best in the world. And then we go to Canva.

“Well I think that Adobe has to do something . . .They have to explain how they can, just take a longer term view and say look, here’s what we think can’t be AI. Here’s our moat. And even if it brings down the sales, or put out projections. . . You have to explain to people why your business is still relevant in this era. And Adobe I think is struggling because they’ve been, when you’re the best you don’t know what to do. But when you realize that others are cannibalizing you, or going after you, you have to admit it and you have to say how they’re going stay ahead of the posse. And I don’t think they have. I sure hope they do it tonight. Really hope so.”

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Disclosure: None. This article is originally published at Insider Monkey.