Adobe Releases Online Shopping Forecast For 2023 Holiday Season; Expects US Online Holiday Sales To Reach $221.8B, Representing 4.8% Growth YoY And Sees Cyber Monday Spending $12B
Portfolio Pulse from Bill Haddad
Adobe has released its online shopping forecast for the 2023 holiday season, predicting US online holiday sales to reach $221.8B, a 4.8% growth YoY. It also expects Cyber Monday spending to hit $12B.
October 05, 2023 | 12:16 pm
News sentiment analysis
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may see a neutral impact from Adobe's forecast as it is a broad market ETF.
SPY is a broad market ETF, and while it does include e-commerce companies, Adobe's forecast is unlikely to have a significant impact on the ETF as a whole.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Adobe's forecast of increased online sales could potentially boost its software sales and services, positively impacting its stock.
Adobe's software and services are widely used in e-commerce. A forecast of increased online sales indicates potential growth in Adobe's customer base and revenue, which could positively impact its stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
The Global X E-commerce ETF (EBIZ) could see a positive impact due to Adobe's forecast of increased online sales.
EBIZ is an ETF that tracks e-commerce companies. Adobe's forecast of increased online sales could indicate potential growth for companies in this sector, which could positively impact EBIZ.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P Retail ETF (XRT) could see a positive impact due to Adobe's forecast of increased online sales.
XRT is an ETF that tracks retail companies, including e-commerce. Adobe's forecast of increased online sales could indicate potential growth for companies in this sector, which could positively impact XRT.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80