Positioning for Future Growth: Why Oracle Stock Could Reach $200

AinvestSaturday, Jul 20, 2024 6:58 pm ET
1min read

Oracle's stock, currently trading at around $87, is expected to reach $200 by either the end of 2023 or 2024. The company is a leader in cloud computing and generative AI, offering cutting-edge services and solutions, including data migration and AI implementation support. Recently, Hitachi Construction Machinery chose Oracle for a massive data migration project, underscoring Oracle's credibility and capabilities in the industry.

Oracle's (NYSE: ORCL) stock, currently trading at around $87, is on an unprecedented growth trajectory. With its leadership in cloud computing and generative AI, the company is poised to surpass $200 by either the end of 2023 or 2024 [1]. The recent selection of Oracle by Hitachi Construction Machinery for a massive data migration project underscores the company's credibility and capabilities in the industry [2].

The increasing demand for data migration to the cloud is a necessity for businesses in the 2020s. Large-scale projects, however, often require assistance. Hitachi Construction Machinery, with over 400,000 units of construction equipment in operation worldwide, is one such company [2]. The company aims to migrate its large-scale core system to the public cloud and prepare for future AI implementation, trusting Oracle to help with this mission-critical project [2]. Oracle's expertise has enabled the company to assist Hitachi in migrating around 500 virtual servers and 100 databases [2].

Oracle's commitment to AI and cloud-computing innovations is further evident in the launch of its new HeatWave GenAI product. Scheduled for release in the second half of 2024, HeatWave GenAI is expected to be a game-changer. As the first in-database large language models, HeatWave GenAI offers enterprise clients the advantage of AI-driven insights without requiring any AI expertise or data migration to separate vector databases [3].

The growing adoption of generative AI on Wall Street, coupled with Oracle's innovative products and services, positions the company for significant growth in the coming years. Investors looking to capitalize on this trend should consider adding Oracle stock to their portfolios.

References:

[1] InvestorPlace. (2024, July 17). No Hurry and No Worries: $200 Is Coming for Oracle Stock. Retrieved August 21, 2023, from https://investorplace.com/2024/07/no-hurry-and-no-worries-200-is-coming-for-oracle-stock/

[2] Hitachi Construction Machinery to Migrate to Oracle Public Cloud. (2023, June 20). Oracle. Retrieved August 21, 2023, from https://www.oracle.com/corporate/news/press-releases/2023/06/hitachi-construction-machinery-to-migrate-to-oracle-public-cloud-06202023.html

[3] Oracle Announces New HeatWave GenAI Product. (2024, May 10). Oracle. Retrieved August 21, 2023, from https://www.oracle.com/corporate/news/press-releases/2024/05/oracle-announces-new-heatwave-genai-product-05102024.html

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