Adobe falls with Apple? – Macitynet.it
Will Adobe be one of the victims of the Apple crisis? This is what some analysts think, including those of PaineWebber, who lowered their rating on the title of the graphics products company yesterday. In a document released yesterday Ben Reitzes, one of the experts of the market analysis company, in fact downgraded the title from "attractive" to "buy" and at the origin of the decision there would be precisely the sales problems that afflict this Apple's fiscal quarter. "Fewer Apple computers – Reitzes' reasoning – mean fewer Adobe packages sold." To this factor the analyst then adds the slowdown that is manifesting in the number of IT purchases of companies and professional color printers. "All put together leads to advise more caution in the purchase of Adobe titles than it would have led to assign it to such an aggressive company on the market." Reitzes' claims were disputed by other colleagues, such as John McPeake of Prudential Securities notes that in many other cases, such as in the fiscal quarter that ended in September 1999, Adobe sold more while Apple dropped the number of machines distributed. In addition, the sale of new computers is not related, for example, to the sale of update packages. McPeake thus maintained its "strong buy" on the Palo Alto company's shares. Rumors of Adobe's possible sales declines, however, influenced its performance on Wall Street where it marked a 6% drop, losing $ 8.