Quick Read – Oracle stock has been plunging due to Wall Street souring on excessive spending – On the other hand, Micron is not leaning into the euphoria and is taking conservative steps – These stocks are moving in opposite directions, and it says a lot about where the market…
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Wall Street may be turning on AI, as Oracle (NYSE:ORCL) has lost a fifth of its value in just the past five days. This was a celebrated AI darling, whose CEO went on the podium next to President Donald Trump and OpenAI CEO Sam Altman a year ago. ORCL stock is now up just 2.3% from year-ago prices, and it may not be long until it’s in the red.
That’s a major shift from a company that many expected would inevitably reach $1 trillion. The market cap now is narrowly holding above $500 billion. So, what happened?