Locator: 48575TECH.
Updates
September 13, 2024: same story as original post, but with more data -- in pre-market trading, ORCL up almost 6% this morning.
Oracle Corp said annual revenue will rise to at least $104 billion in fiscal 2029, an optimistic signal on the growth prospects of the software maker’s cloud infrastructure business.
Executive Vice President Doug Kehring delivered the forecast Thursday at Oracle’s annual briefing for financial analysts. Oracle also raised its sales outlook for fiscal 2026 to at least $66 billion from a prior target of $65 billion. On average analysts estimated revenue of $64.5 billion for 2026, according to a Bloomberg survey.
The Austin-based company, known for its database software, is focused on expanding its toehold in cloud infrastructure, which rents out computer power and storage to compete with Amazon.com Inc., Microsoft Corp. and Alphabet Inc.’s Google. Oracle’s cloud has developed a reputation for success with generative artificial intelligence workloads — the company touted customers including including Reka and Elon Musk’s xAI.
Original Post
Holy mackerel! I had just put my laptop away to relax a bit: watch Sophia at soccer practice and read awhile (see "book page" earlier). I made the mistake of checking the iPhone one last time and this popped up -- Oracle!
Are you kidding me!
Everything, everywhere happening all at once.
I've always had a position in Oracle -- maybe started two decades ago -- I've long forgotten but about six months ago I started aggressively adding to that position -- Oracle just seemed under-priced, under-valued, forgotten compared to the magnificent seven. In fact, more on that later, perhaps. So, I've been excited about the Oracle headlines the last week or so.
Now tonight, link here:
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