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
€135.68
-1.580%
The stock is one of the favorites of our community with 103 Buy predictions and 1 Sell predictions.
With a target price of 233 € there is a hugely positive potential of 71.73% for Oracle Corp. compared to the current price of 135.68 €.
