Investing.com — Analysts at Wells Fargo have added software program titans Microsoft (NASDAQ:) and Adobe (NASDAQ:) to their “Signature Picks” portfolio.
In a notice to shoppers on Wednesday, the analysts mentioned they’d opened a 4% place in Microsoft, citing its “cloud positioning and [artificial intelligence] management.” They famous particularly that AI had helped gasoline second-half power on the firm’s all-important Azure cloud division.
In the meantime, the Wells Fargo analysts mentioned they’d initiated a 2% place in net design software supplier Adobe. They argued that “design is one ofthe most tangible use instances” of so-called generative AI, including that investor considerations round competitors are “overblown.”
“Adobe’s moat stays strong,” they mentioned.