The evidence. Good earnings ≠ guaranteed uptrend.Adobe Inc.BATS:ADBEExperTrader21The evidence. Good earnings ≠ guaranteed uptrend. From September 2024 to September 2026, Adobe has released 9 quarterly earnings reports: Q3 FY2024 — Sep 2024 Q4 FY2024 — Dec 2024 � Adobe Newsroom Q1 FY2025 — Mar 2025 � Adobe Newsroom Q2 FY2025 — Jun 2025 � Adobe Newsroom Q3 FY2025 — Sep 2025 � Adobe Newsroom Q4 FY2025 — Dec 2025 � Adobe Q1 FY2026 — Mar 2026 � Adobe Newsroom Q2 FY2026 — Jun 2026 � Adobe Newsroom Q3 FY2026 — Sep 2026 � Adobe Newsroom 9 QUARTERLY REPORTS — BUT THE STOCK IS STILL IN A MAJOR DOWNTREND. Look at this chart. Since September 2024, Adobe has reported 9 quarterly earnings results, including multiple reports described by Adobe as record revenue/results. For example, Q2 FY2025 reported record revenue and raised FY25 revenue and EPS targets, while Q3 FY2025 also reported record revenue and raised its FY25 targets. � Adobe Newsroom +1 Yet the price structure shown on this chart has moved dramatically lower. This is the evidence: A good quarterly report does NOT automatically mean the stock price will enter an uptrend. Fundamentals can remain strong while the market price continues to fall. The stock market prices expectations, future growth, valuation, sentiment and positioning—not simply whether the latest quarterly report was good. So when someone says: “Adobe had a good quarter, therefore the stock must go up.” This chart provides a very important counterpoint: Good earnings ≠ guaranteed uptrend. *Personal technical view — not financial advice.*