Adobe ( ADBE -12.68%) stock tumbled 12.4% through 10:30 a.m. ET Thursday despite beating earnings in its fiscal Q4 2024 report last night. Heading into the report, analysts forecast Adobe would earn $4.67 per share on $5.5 billion in sales. In fact, Adobe earned $4.81 per share, and its sales exceeded $5.6 billion.

Adobe has been of the tech market's biggest underperformers so far this year, falling around 13.2% over the past twelve months as it struggles to monetize its ambitions to infuse

Despite strong AI tool adoption, Adobe faces slowing growth and stiff competition. Read more to see why I remain neutral on ADBE stock.