AMZN - Oracle: Concerns About The Cloud With The Stock Near Fair Value
2024-02-01 14:09:34 ET
Summary
- The Information Technology sector had a strong start in 2024, with large-cap tech performing well, but not all of its components are flying high.
- Oracle's cloud business has stumbled in recent quarters, leading to mixed EPS forecast changes, though earnings growth looks decent over the next several quarters.
- With shares near fair value, I also see mixed signals on the technical chart ahead of its earnings date in March.
The Information Technology sector got off to a fast start in 2024. The group of high-growth firms with generally strong balance sheets are seen as both beneficiaries of strong consumer and enterprise spending, but also defensive stalwarts should market volatility strike. How long that halo will hold is up for debate, but large-cap tech continues to perform well. ...
Oracle: Concerns About The Cloud With The Stock Near Fair Value