Oracle Closes in on $1 Trillion Market Cap after Stock Surge
Oracle stock is climbing high and could go much higher thanks to recent contracts and rising net worth.
Quick overview
- Oracle (ORCL) stock surged over 35% this week, raising its market capitalization to $922 million.
- Co-founder Larry Ellison's net worth is nearing $400 billion, making him one of the richest individuals globally.
- Despite a recent 4% dip, Oracle's stock has increased by 87% this year, driven by significant contracts and the AI boom.
- With a strong position in the AI sector, Oracle is projected to continue its growth trajectory in the coming years.
Oracle (ORCL) stock jumped this week with a more than 35% increase, bringing their market capitalization up to $922 million.
Oracle is not tantalizingly close to $1 trillion market cap after their stock price increased dramatically over Wednesday. The stock gained momentum when Oracle’s co-founder Larry Ellison net worth was revealed to be close to $400 billion.
This would make him one of the richest men in the world and put him very close to Elon Musk’s net worth. Ellison’s net worth grew this year primarily because of his 41% stake in Oracle. The company offers cloud storage solutions as well as business software, and they have benefitted tremendously from the AI boom in recent years.
Is Oracle a Must Buy for Investors?
Oracle stock may be down about 4% right now, but that is only a minor pullback from its recent massive gains. The stock is up 87% for the year so far and is still climbing. The question investors may have, though, after the recent surge is whether Oracle is still a good buy. Has it peaked or does it still have the potential to go higher?
The company announced a number of billion-dollar deals this week, and that includes a contract with Elon Musk’s Ai company as well as a contract with OpenAI. It is not just the co-founder’s net worth on the rise, but the company’s worth is certainly climbing as well.
Oracle’s net worth and stock value have been rising meteorically for years now. They had a downturn in 2022 but have been overall bullish since then. Their stock was valued at $74 at a low point in 2022, but they are now valued at $311 per share, which is a 320% increase.
Because Oracle is a heavyweight in the AI sector and that market is booming, the company stands to gain considerably over the next few years. We say that Oracle is a great investment even after their recent surge, because their current position and their past history show that they are likely to grow dramatically in the coming years.
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