ADBE is following NFLX model (subscription/cloud). The stock price will follow it too. Most of you are focused on the wrong metrics, clinging to the way things used to be. Meanwhile, ADBE is methodically and conservatively executing their long term plan. All the decisions they started making in 2007 are paying off. You guys should not invest in things you don't understand.
I understand you are going to realize huge losses if you are not smart enough to sell today.
Needless to say, the comparison between ADBE and NFLX is just stupid on multiple levels. For one thing, NFLX is not trying to extort subscription fees from it's customers by threating to keep their own files. Secondly, the NFLX market is not a specialized niche group of customers like ADBE's, and these customers are going to be lost forever if they become alienated.
True, they're not disrupting anything like NFLX does. But, they are taking a page out of the NFLX playbook and applying successfully it to software. ADBE is mostly held by institutions. They just placed a huge bet on ADBE for 2014-16 with this 1-day +10% vote of confidence.