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Oracle: the future is in the “cloud”
Oracle is one of the major manufacturers of software for enterprises and companies and a serious supplier of equipment for servers. The company’s shares did not attract much attention until exactly the moment when Oracle reported for a stunningly productive quarter:
It’s edgy as the company’s foreign revenue is under pressure due to the strengthening phase of the US dollar.
The unusual fact is that AWS and Azure, Oracle’s closest competitors in the cloud service sector, had so-so results in the first quarter of 2022.
Not everything is so clear here, although Oracle management is very optimistic and believes that the IaaS segment, the infrastructure cloud sector, is in a phase of hyper-rapid growth.
Oracle’s securities looked average, but after the publication of reports and comments from the company’s top management, they went up, breaking the downward trend and starting to form an upward one. The MACD indicator on the daily chart is pointing upwards, showing a buy signal. The Stohastic oscillator is growing in the positive zone and confirms the buy signal. The technical growth target may be at the level of $79, in the long term – $90-92.