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HSBC says ArtCraft competing open-source tools make Adobe stock less attractive. The investment firm downgraded ADBE shares to "Hold" today.

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Micron faces fresh concerns over Chinese memory-chip competition, while AST SpaceMobile and Adobe come under pressure after brokerages cut their ratings and price targets.

HSBC just took a crowbar to Adobe’s stock case, downgrading ADBE from Buy to Hold and cutting its price target to $267 from $310.