ORCL Shares Plunge 3.88% on Margin, CapEx Concerns Despite $455B AI Backlog

Oracle shares dropped 3.8789% in pre-market trading on November 13, 2025, extending a multi-month decline that has erased over 30% of its value since September. The selloff reflects investor concerns over margin pressures and capital expenditure challenges, despite Oracle's reported $455 billion AI-related contract backlog—a figure that had previously driven a 36% rally in September.

Analysts remain divided on the stock's trajectory. Mizuho Securities' Siti Panigrahi maintained a "Buy" rating with a $400 price target, arguing Oracle is well-positioned to exceed expectations in its December fiscal quarter earnings. The analyst highlighted Oracle's growing AI infrastructure deals with hyperscalers and enterprises, which are expected to translate into recurring revenue streams. However, Phillip Securities cautioned that faster execution on multi-billion-dollar AI projects is critical to restoring investor confidence.