Why Oracle Stock Tumbled 23% in November
It was pure euphoria in September when (NYSE: ORCL) reported a more than quadrupling of its backlog to an incredible $455 billion. A reported $300 billion cloud computing deal with OpenAI drove much of that increase. Shares of Oracle initially surged as investors focused on the projected revenue growth while ignoring some thorny questions about the Oracle-OpenAI partnership.
After a 23.1% drop in November, according to data provided by S&P Global Market Intelligence, Oracle's post-earnings gains have now been completely erased. Optimism has quickly faded, giving way to concerns about debt, OpenAI's ability to pay, and the potential bursting of the AI bubble.
Image source: Getty Images.
Source Fool.com
Oracle Corp. Stock
€132.52
1.950%
The stock is one of the favorites of our community with 97 Buy predictions and 3 Sell predictions.
With a target price of 233 € there is a hugely positive potential of 75.82% for Oracle Corp. compared to the current price of 132.52 €.
