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When Adobe (ADBE) reported second-quarter results, shares slumped by 5.32%. ADBE stock traded below $390 on June 14 despite raising its revenue forecast for this fiscal year.Adobe reported revenue of $5.87 billion, up by 10.5% Y/Y. Non-GAAP EPS of $5.06 beat expectations. In Q3, the firm expects revenue of up to $5.925 billion. Shares sank because the stock trades at a 19 times forward P/E ratio. Its growth is not strong enough to end the stock’s yearlong downtrend.Apple (AAPL) shares closed below $200 last week. Since December 2024, the stock traded at lower highs, from over $250 in January to $225 by late March. The firm does not have an appealing AI product pathway. Instead, CEO Tim Cook touted Apple TV+ tools to empower creative people.At WWDC, the company did not announce any major progress for Apple Intelligence.In AI, AMD (AMD) CEO Lisa Su said that AI inferencing demand is now outpacing AI training. More models emerged, increasing the demand for inferencing. She predicted that inference would grow by more than 80% per year over the next few years. Still, AMD will have trouble taking Nvidia’s market share. It needs the community to embrace open source, compared to Nvidia’s proprietary solution.AMD’s customers for the MI350 AI servers include Meta Platforms (META), Microsoft (MSFT), and xAI. When AMD releases MI400, customers like Oracle (ORCL) could drive demand higher.