Adam Smigielski

We are downgrading Oracle Corporation (NYSE:ORCL) on hold. The stock is up 77% since our Buy recommendation at the end of September last year and has outperformed the S&P 500 (SP500) by almost 60%. We expect the stock to have risen since late 1H23 as investors got too excited about Oracle’s growth potential in the artificial intelligence (“AI”) space. We have driven the AI ​​momentum higher and now expect the outperformance to weaken further in the second half of 2023. We believe investors would be better positioned in the near term to stand on the sidelines.

I’m looking for alpha



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