Why Oracle Stock Fell 12% in September
Shares of database and cloud company (NYSE: ORCL) fell 12% in the month of September, according to data from S&P Global Market Intelligence.
Oracle released its fiscal first-quarter earnings during the month, which set off the decline. Coming into September and into the announcement, Oracle had rallied to an all-time high on the back of artificial intelligence (AI) enthusiasm. However, while growth was still solid across its portfolio, it didn't quite live up to the hype -- or analyst expectations.
Throughout the year, Oracle had positioned itself as an ascendant AI player, along with the other three major cloud infrastructure stocks. Since last year and through early 2023, the company highlighted its close partnership with Nvidia, being one of the first clouds to offer Nvidia's DGX platform and other cloud-based services.
Source Fool.com
Oracle Corp. Stock
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