Oracle Expands Partnership With Microsoft - Oracle Database@Azure Set To Sizzle In 15 Regions Worldwide

Oracle Corporation ORCL stock is gaining in the premarket session on Thursday.

The company expanded collaboration with Microsoft Corporation MSFT to meet growing customer demand for Oracle Database@Azure around the world. 

Database@Azure will expand to five more regions, which brings the total planned multicloud availability footprint to 15 regions globally.

Bringing Oracle Database@Azure to Europe will enable customers in the region to locally employ Oracle database services running on OCI hardware deployed in Azure datacenters for the first time,” said Microsoft CVP Azure Infrastructure Product and Design Erin Chapple.

Today, Oracle also unveiled its latest innovation, Oracle Cloud EPM for Sustainability, within the Oracle Fusion Cloud Enterprise Performance Management (EPM) suite. 

This solution empowers organizations to streamline the measurement and enhance the management of their sustainability endeavors efficiently.

The company also announced new artificial intelligence (AI) capabilities in Oracle Fusion Data Intelligence that will help Oracle Fusion Cloud Applications customers improve decision-making by combining data-driven insights with “intelligent actions”.

The company also announced Oracle Smart Operations, new supply chain execution capabilities in Oracle Fusion Cloud Supply Chain & Manufacturing (SCM).

ORCL Stock Prediction For 2024

Oracle’s revenue growth in FY23 was 17.7%, reflecting the influence of various factors including the macroeconomic environment, demand for its products and services, and its position relative to competitors. This growth is a critical indicator for investors assessing the company’s future prospects.

Some macro factors that could impact the company's performance in the next year include higher interest rates, progress on reeling in inflation and labor market strength. The Fed's benchmark rate is currently at 5.33%, while PPI recently came in at 0.3%, growing 0.9% from last year. The unemployment rate was most recently reported as 3.9%.

An investor should pay attention to economic conditions to decide whether they think the macro environment is positive or negative for Oracle stock. For real time economic data and breaking market updates, check out Benzinga Pro. Try it for free.

How does this stack up against Oracle's peers?

Investors may also want to analyze a stock in comparison to companies with similar products or in similar industries. Oracle operates in the Information Technology sector. The stock has experienced average annual growth of 23.23% compared to the 0.47% average of its peer companies. This is below the broader sector movement of Oracle.

Price Action: ORCL shares are trading higher by 1.07% to $126.86 premarket on the last check Thursday. 

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