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Today is the first day of summer.
But we’re still in school.
Our last day of school is tomorrow.
Our summer vacation will start tomorrow afternoon.
Today we are going to talk about Adobe.
The ticker symbol is ADBE.
It reports tomorrow Tuesday June 21st after the bell.
In its last 22 quarters, it’s missed earnings estimates only once
* It’s had 19 beats
* 2 “meets”
* And 1 “miss”
It’s riding a streak of 10 straight “beats”
It is successfully reinventing itself from a traditional software company to an internet cloud company.
Its’ earnings are becoming easier to predict since about 75% of its revenue comes from subscriptions.
Its cloud business consists of 3 parts:
1. Creative Cloud: which includes products like Photoshop & Illustrator
2. Marketing Cloud
3. Document Cloud: which includes products like Acrobat DC and Acrobat Sign
Fun Fact: Adobe is consistently ranked as one of the best places to work.
* Free massages
* Pet insurance
* Generous vacation
Wow! That sounds great.
We think Adobe will have another earnings beat tomorrow.
They don’t have weekly options.
The July $100 calls look like an attractive play if you want to go long.
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