I guess you won't be buying any Adobe stock huh. Bet you wish you did a year ago.
No I won't ... I'm following the same pattern as the Adobe executives did earlier this year ... like when the CEO sold off over 90% of his stock just prior to the CC only announcement ... apparently he didn't feel it wise to let even 10% of his shares ride to even greater potential. I've always been leery of patronizing a restaurant where the chef won't partake of his own efforts at meal time.
What you may want to consider, is where all those expected stock values, future dividends will originate from ... and if they will maintain value over the long haul ... or if it will be ever more likely when it comes crunch time, subscription rates will rise significantly to make up the shortfall ... either that or a significant reduction in staff, services offered or slowdowns in updates/upgrades ... spreadsheets have a way of balancing out in such ways. Quite often, in a very unpleasant manor for the consumer.
While the current Adobe CC offers may seem quite attractive ... and early indicators may look positive, tech stocks are a fickle roller coaster ride and can devalue at a far greater rate unexpectedly. Just look at Apple over the past year or so ... they report their best quarter ever, recording their highest hardware unit sales ever, (except for the iPod) greatest percentage of OS adoption ever with the largest net profit ever (per quarter) ... though they fell a bit short of Wall Street prognosticators' expectations resulting in their stock taking a significant hit nearly overnight ...
What other industry is so fickle that you have such record-setting success ... then are deemed unworthy? The worm can turn when you least expect it. Lauding marginal self-proclaimed success today is no guarantee it will hold up tomorrow.
So, no, I won't be investing in Adobe from either side of the equation ... as a consumer or an investor ...