Oracle Stock Just Hit a 52-Week Low After a 57% Drop in 10 Months. Is This a Buying Opportunity or Falling Knife?
Oracle just hit a fresh 52-week low, while its AI backlog is exploding.
Overview
Since hitting a 52-week low of $114 last month, Oracle (NYSE: ORCL) stock has rebounded to $147 at the time of writing but is still trading 57% below its previous high. The drop comes even as the company posts strong results and management talks up multiyear demand for its cloud services.
The stock's decline was not related to anything Oracle reported but rather reflected a broader sell-off across artificial intelligence (AI) infrastructure stocks over the last month. This signals more of a buying opportunity than a falling knife, given management's growth guidance.
Image source: The Motley Fool.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.