卧虎藏龙

Adobe预计公司2023年年度销售额将低于预期：汇率变化影响增长_我的网站

A |     

    Illustration: Xia Qing/GT
The yen has weakened in recent days, edging closer to the psychologically important 160 level against the US dollar. The decline comes despite the widely watched move by Washington to join Tokyo in supporting the currency. Less than two weeks after the US-Japan intervention, the yen has given up roughly half of its gains, raising fresh questions over the effectiveness of coordinated efforts to stabilize the exchange rate.
Japan and the US had previously confirmed coordinated foreign exchange intervention to prop up the yen after the currency tumbled to a nearly 40-year low. At the time, some observers saw the move as potentially stabilizing the yen in the short term, although its longer-term impact remained uncertain. 
However, the subsequent market reaction suggests that even the short-term effect may have been limited. After strengthening to about 155 per dollar in the days following the intervention from above 163, the yen had slipped back above 159 by Wednesday, less than two weeks later.
Questions have emerged over whether further support for the yen may soon be needed, and whether Washington would consider stepping in again. The previous intervention was seen by some observers as a test of market confidence: the unusual coordinated move had the potential to influence market expectations and discourage bets against the yen. But if market expectations remain largely unchanged, repeated interventions could deliver diminishing returns. The US may face a difficult trade-off. Another intervention could require greater resources and come at a higher cost, while refraining from further action could raise questions over the lasting impact of the previous effort.
Market commentary has added to the uncertainty. Axios published a report headlined "Yen's weakness shows market isn't done pushing," while some reports suggested that the impact of the US-Japan intervention was beginning to fade. Such narratives could weigh on sentiment toward the yen and reinforce market expectations that the currency's weakness may persist.
Washington's involvement in supporting the yen may reflect broader economic and policy considerations. These could include avoiding a scenario in which Japan sells US Treasury holdings to support the currency, as well as concerns that a weaker yen could give Japanese exporters a greater competitive advantage. These possible considerations suggest that the intervention alone does not fully address the underlying forces behind the yen's weakness. This may help explain why the market has so far been reluctant to view the move as a turning point for the currency.
Washington's decision to join the intervention may have reflected concerns, as some observers suggest, that the yen's prolonged weakness had begun to affect US interests. If markets remain unconvinced by the US-Japan intervention, one possible outcome is that Washington could push Japan to take more costly measures to support the yen. Such a scenario could instead create some strain between Washington and Tokyo.
Beyond short-term market dynamics, the yen's weakness also reflects deeper challenges facing the Japanese economy, making a sustained reversal difficult. The currency's prolonged weakness has been influenced by the interest rate gap between Japan and the US, while also reflecting longer-term concerns over the diminishing returns of Japan's traditional growth model.
This leaves Japan facing a delicate policy balance between supporting growth and stabilizing the currency. While lower interest rates could help boost economic activity, continued weakness in the yen may strengthen calls for Japan's central bank to consider further rate increases to narrow the interest rate gap with the US.
Japan's structural challenges mean that a sustained appreciation of the yen will not be easy to achieve. The question of whether to pursue stronger measures, even at the cost of some economic growth, has become more complicated as the US takes a role in the issue. Japan may face greater pressure to support the currency, even though doing so would be difficult and could carry broader economic costs.
The author is a reporter with the Global Times. [email protected]

。    Adobe超过40%的销售额来自海外。该公司首席执行官Shantanu Narayen周二在向分析师发表报告时表示，经济环境影响了这一预测。"首席执行官的信心明显有所下降，" Narayen称，理由是客户对美国通胀、潜在经济衰退和俄乌冲突的担忧。Adobe说，这一预测不包括Adobe上个月宣布将以200亿美元收购的产品设计竞争对手Figma。分析师们对收购价感到惊讶，这是一家私有软件公司有史以来的最高收购价，并预示着竞争对手正在大举进军，超出了此前的预期。自宣布与Figma达成交易以来，该公司股价已下跌21%，周二在纽约收于292.98美元。该公司在一份声明中表示，本财年的销售额将约为192亿美元。在截至2023年11月的这一期间，不包括一些项目的利润将高达每股15.45美元。

B | 分析师平均预计，该公司每股收益为15.53美元，营收为198亿美元。该公司还确认了其第四财季的销售和收益(不包括部分项目)预期为每股3.5美元，约合45亿美元。消息公布后，股价在盘后交易中上涨了约3.2%。媒体写道，Adobe的数字媒体部门(包括其标志性创意软件)的财政年度预测低于预期，强化了收购Figma“显示出对抗创意云业务增长放缓紧迫感”的论点。Adobe正在寻求扩大其基于网络的产品系列，以吸引更多的休闲用户和产品设计师。近年来这一市场吸引了Canva、Lightricks和Figma等公司。

C | 在周二早些时候举行的Adobe年度产品发布会上，该公司对其旗舰产品Photoshop图像编辑程序进行了改进，增加了更多协作工具、人工智能功能和网络功能。Narayen在发布会上大力宣传Adobe Express的发布，这是一款基于浏览器的快速媒体编辑解决方案。该公司表示，自推出以来该服务已有2000万注册用户。“我们可能来晚了一点，” Narayen，“但它就在这里，而且很棒。

Current article:http://sz72nga.michengyuraochixun.buzz/news/20260826_4829.html

Published on:00:00:00