Will Oracle Be a Trillion-Dollar Stock by 2030?
Shares of (NYSE: ORCL) have underperformed the broader market in the past year, rising a modest 25% while the tech-laden Nasdaq-100 Technology Sector index has clocked gains of almost 45%. However, the provider of database and cloud services provider has shot into the limelight of late thanks to artificial intelligence (AI).
Last month, investors cheered Oracle's results from its fiscal 2024 third quarter, which ended Feb. 29. The database specialist not only delivered better-than-expected numbers, but also revealed a solid improvement in its revenue pipeline thanks to the growing demand for its AI solutions. However, will Oracle be able to capitalize on the AI opportunity, beat the broader stock market in the long run, and become a trillion-dollar company by 2030?
In Oracle's fiscal 2018, it reported $39.8 billion in revenue. The company is expected to finish fiscal 2024 in a few months with a total revenue of $53.2 billion. That translates into a six-year compound annual growth rate (CAGR) of 5.6%. For the current fiscal year, Oracle is expecting a 6.6% increase in revenue.
Source Fool.com
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