Adobe courts iPad users

Article Excerpt

ADOBE SYSTEMS INC. $255.54 (Nasdaq symbol ADBE; TSINetwork Rating: Average) (408-536-6000; www.adobe.com; Shares outstanding: 489.7 million; Market cap: $123.2 billion; No dividends paid) is reportedly planning to launch a full version of its Photoshop app for Apple Inc.’s iPad. In 2012, Adobe shifted all of its apps to the cloud. That’s where customers access its software online and store their data files on remote servers. The move launched its fast-growing subscription-based business model. However, the current apps are based on old architecture that varies across devices. That platform does not include the iPad. The new versions of the apps will let users run full versions of the programs on Apple’s iPad. Adobe’s customers, particularly in media and entertainment, are increasingly working on tablets rather than desktop computers. Adobe Systems is still a hold. hold…