Oracle Expands Connectivity with AWS, Boosting Market Position
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 11 2024
0mins
Should l Buy ORCL?
Source: PRnewswire
Oracle's stock rose by 3.03% in pre-market trading, reaching a 20-day high, as the company announced plans to enhance connectivity between its Oracle Cloud Infrastructure (OCI) and Amazon Web Services (AWS).
This expansion aims to provide enterprise-grade, high-performance connections that will allow customers to seamlessly move data and run applications across both cloud platforms. This strategic move is expected to accelerate AI modernization for clients, leveraging OCI's capabilities across 26 partner cloud regions, thus simplifying data management and application modernization processes. The interconnect is set to launch later in 2026, further enhancing Oracle's competitiveness in the multicloud solutions market.
The implications of this announcement are significant, as it positions Oracle to better meet customer demands for flexibility and performance in cloud services, potentially driving further growth and market share in the competitive cloud landscape.
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Analyst Views on ORCL
Wall Street analysts forecast ORCL stock price to rise
34 Analyst Rating
25 Buy
9 Hold
0 Sell
Moderate Buy
Current: 175.060
Low
180.00
Averages
309.59
High
400.00
Current: 175.060
Low
180.00
Averages
309.59
High
400.00
About ORCL
Oracle Corporation offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. The Company operates through three businesses: cloud and license, hardware and service. Its cloud and license business is engaged in the sale, marketing and delivery of its enterprise applications and infrastructure technologies through cloud and on-premise deployment models including its cloud services and license support offerings, and its cloud license and on-premise license offerings. Its hardware business provides infrastructure technologies including Oracle Engineered Systems, servers, storage, industry-specific hardware, operating systems, virtualization, management and other hardware-related software to support diverse IT environments. Its services business provides services to customers and partners to help maximize the performance of their investments in Oracle applications and infrastructure technologies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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