Why Shares of Oracle Are Sinking Today
Shares of cloud giant (NYSE: ORCL) traded over 5% lower, as of 12:04 p.m. ET today. The company continued to slide, as more concerns over artificial intelligence emerged following the release of Broadcom's earnings report last night.
With Oracle's stock now trailing the broader market, it's easy to forget that just a few months ago, Oracle reported one of the year's most impressive earnings reports, which sent shares surging by some 40%. The stock surged after the company reported over $450 billion of remaining performance obligations, driven by demand for Oracle's AI cloud solutions, which are delivered through the company's global data center network.
Image source: Oracle.
Source Fool.com
Oracle Corp. Stock
€161.56
-4.670%
With 99 Buy predictions and 2 Sell predictions Oracle Corp. is one of the favorites of our community.
As a result the target price of 230 € shows a positive potential of 42.36% compared to the current price of 161.56 € for Oracle Corp..
