Oracle Corporation (NYSE:ORCL) is one of the best beaten-down technology stocks to buy now.
On July 1, Blair added Oracle Corporation (NYSE:ORCL) to its analyst conviction list
According to the research firm, the company has emerged as a major beneficiary of the artificial intelligence buildout as hyperscale cloud commitments continue to drive strong revenue visibility. Photo from Oracle website Hyperscalers are increasingly signing multiyear cloud capacity commitments, thereby strengthening Oracle’s revenue base. Additionally, full-stack capabilities spanning the OCI cloud and system-of-record applications are increasingly supporting accelerated revenue growth.
Blair insists Oracle is trading at a discount relative to peers in AI infrastructure despite improving fundamentals. Consequently, there is room for upward earnings revisions and multiple expansion to drive shares higher in the second half of the year. In June, Oracle’s total workforce declined by 13% as the cloud computing giant continued restructuring its business, driven by the adoption of AI across its operations.