Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>ORCL stock price is showing a downtrend but the bulls are opting for a breakout.</a> </li> 
 <li> <span>2</span> <a>The company has made an operating profit of $3.3 Billion in its first quarter of fiscal year 2024.</a> </li> 
 <li> <span>3</span> <a>The current price is near a resistance level. See whether a breakout will come or not.</a> </li> 
</ul> 
<p>Texas-based company, Oracle Corporation (NYSE: ORCL) offers a range of products and services aimed at addressing various aspects of corporate information technology environments, including infrastructure technologies and applications. The company operates through three business segments, which are Hardware, Cloud and License, and Services.</p> 
<h2 class="wp-block-heading" id="strong-the-highlights-of-q1-2024-fy-strong"><strong>The Highlights of Q1 2024 FY</strong></h2> 
<p>The company has delivered its monetary 2024 Q1 results. The company showed an increase of 9% Year on Year in Overall quarterly sales. The amount reported was about $12.5 Billion. In addition, the Cloud services and license support sales likewise saw an increment of 13% Year-on-Year to $9.5 Billion.</p> 
<p>Moreover, the cloud permit and on-premise permit incomes showed a declining growth of 10% YOY to $0.8 Billion. The organization’s Q1 generally accepted accounting principles (GAAP) operating profit was $3.3 Billion, with a non-GAAP operating profit of $5.1 Billion up 13% year-on-year.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-further-insights-from-the-management-strong"><strong>Further Insights from the Management?</strong></h3> 
<p>Safra Catz, the CEO of ORCL, declared that the organization’s cloud infrastructure sales have expanded by 66% in the first quarter. This is outperforming its rivals in the hyper-scale cloud framework space. The overall sales from the cloud services increased by 30% to $4.6 Billion in the quarter.&nbsp;</p> 
<p>It is also mentioned that the company’s revenue is mostly coming from its cloud services and license support. This kind of revenue is steady and profitable. Oracle’s Gen2 Cloud has already signed contracts with AI development companies to purchase more than $4 Billion of capacity.&nbsp;&nbsp;</p> 
<p>This is twice as much as they had booked at the end of Q4. This is because Oracle’s RDMA interconnected NVIDIA Superclusters can train AI models at twice the speed and less than half the cost of other clouds, making it an attractive option for the largest AI technology companies and leading AI startups.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-orcl-stock-price-strong"><strong>Technical Analysis and Prediction of the ORCL Stock Price&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img loading="lazy" decoding="async" width="1600" height="799" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-212.png" alt="ORCL Stock Price: Bulls Trying to Make a Comeback, What’s Next?" class="wp-image-180289" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-212.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-212-300x150.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-212-1024x511.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-212-768x384.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-212-1536x767.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-212-360x180.png 360w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-212-750x375.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-212-1140x569.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   NYSE: ORCL chart by<a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NYSE%3AORCL"> TradingView </a>(Daily time frame
  </figcaption>
 </figure>
</div> 
<p>After opening with a gap-down in mid-September, the ORCL <a href="https://www.thecoinrepublic.com/2023/09/13/iag-stock-price-half-yearly-reports-overwhelm-the-investors/" target="_blank" rel="noreferrer noopener">stock price</a> is currently trading at $113. It has risen to the immediate resistance level of $112, following the bulls’ successful reclaim of the $103 support level. The current 50-day EMA is surpassed by the bulls, which indicates a bullish strength. The prediction of the ORCL stock price will be bullish if the current resistance gets broken.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Oracle Corporation (NYSE: ORCL) reported its Quarter 1 results in which they made a positive book profit in terms of GAAP. The management has shed light on its cloud services and license support. The current stock price is near a supply zone and the stock will rise if this resistance gets surpassed.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support: $103, and $90.5</p> 
<p>Resistance: $114, and $127</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

ORCL Stock Price: Bulls Trying to Make a Comeback, What’s Next?

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