Investors who have watched shares in Adobe Inc. get left behind in the AI craze have little reason for optimism ahead of the software maker’s latest quarterly results.

Wall Street expects full-year sales growth of nearly 10% — a solid rate of expansion, but one that would be the slowest for Adobe in over a decade. Analysts see the pace receding every year through fiscal 2028, at a time when investors can target clearer AI winners like Oracle Corp. that are anticipating accelerating growth in the coming years.