Why Did ADBE, CRM, TTD Stocks Hit 52-Week Lows Today?

The selloff highlights a growing divide between companies supplying AI infrastructure and those relying on conventional subscription-based software revenue.

• Adobe shares fell to an eight-year low of $195.64 as investors worried that AI could reduce demand for products like Photoshop and Premiere Pro. 
• Salesforce shares fell to a three-year low of $154.23 as investors worried that AI agents could reduce demand for its traditional per-user software licenses. 
• The Trade Desk shares dropped to a six-year low of $18.15, capping a nearly 74% decline over the past year. 

Adobe (ADBE), Salesforce (CRM), and The Trade Desk (TTD) stocks came under heavy selling pressure on Wednesday as investor skepticism about whether artificial intelligence will help or hurt traditional software providers intensified. 

The declines pushed all three stocks to fresh 52-week lows, even as AI-related hardware businesses continued attracting investor capital. Adobe Stock tumbled 5%, while Salesforce and The Trade Desk declined over 4% each. 

ADBE Investors Reassess Software Economics

Adobe stock crashed to an eight-year low of $195.64. Though Adobe's business remains strong, with revenue rising 13% in its fiscal first quarter, AI could reduce demand for key products like Photoshop and Premiere Pro. 

Investors are worried that generative AI could handle tasks that once required paid software subscriptions. Instead of creating new demand, AI tools may reduce the need for expensive software and make it harder for software companies to maintain their pricing power. 

Adobe's move to offer more AI-powered, free products has raised concerns that revenue growth could slow in the future. Investors are also watching leadership changes, including the planned departure of CEO Shantanu Narayen and CFO Dan Durn. 

However, on Stocktwits, retail sentiment around the stock remained in ‘extremely bullish’ territory. 

CRM Confronts AI Agent Concerns

Salesforce hit a three-year low of $154.23 as investors assess the implications of autonomous AI agents on workforce-related software spending. The company has been generating substantial revenue through per-user licensing, but fears have mounted that AI-driven automation could eventually reduce the number of paid software seats required by enterprise customers.

In response, Salesforce has been exploring alternative pricing models tied to usage and consumption rather than employee counts. Investors, however, remain focused on whether those new revenue streams can offset potential pressure on traditional licensing arrangements.

Retail sentiment around the stock improved to ‘bullish’ from ‘neutral’ territory the previous day.  

TTD’s Advertising Tech Under Pressure

Shares of The Trade Desk fell to a six-year low of $18.15 on Thursday, extending a prolonged decline that has erased nearly 74% of the digital advertising company's market value over the past year. 

Investor concerns have increasingly centered on slowing business momentum, leadership instability, and intensifying competition in the online advertising market. 

Fiscal Q1 revenue expansion moderated into the low double digits, while the company’s Q2 revenue outlook of $750 million fell short of analyst expectations of $770.41 million, according to Fiscal AI data.   

Over the past year, the company saw major leadership changes, including the exits of marketing head Ian Colley, revenue chief Anders Mortensen, and at least three chief financial officers. 

Retail sentiment around the stock remained in ‘extremely bullish’ territory. 

So far this year, while TTD stock plunged 52%, ADBE and CRM stocks slumped over 43% and 41%, respectively. 

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