Adobe 2009 Annual Report Download - page 45

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45
our current investment portfolio has very little risk of material impairment, we cannot predict future market conditions or
market liquidity and can provide no assurance that our investment portfolio will remain materially unimpaired.
We may suffer losses from our equity investments which could harm our business.
We have investments and plan to continue to make future investments in privately held companies, many of which are
considered in the start-up or development stages. These investments are inherently risky, as the market for the technologies or
products these companies have under development is typically in the early stages and may never materialize. Our investment
activities can impact our net income. Future price fluctuations in these securities and any significant long-term declines in
value of any of our investments could reduce our net income in future periods.
We rely on turnkey assemblers and any adverse change in our relationship with our turnkey assemblers could result in a loss
of revenue and harm our business.
We currently rely on seven turnkey assemblers of our products, with at least two turnkeys located in each major region
we serve. If any significant turnkey assembler terminates its relationship with us, or if our supply from any significant
turnkey assembler is interrupted or terminated for any other reason, we may not have enough time or be able to replace the
supply of products replicated by that turnkey assembler to avoid serious harm to our business.
ITEM 1B. UNRESOLVED STAFF COMMENTS
None.