# Oracle Corp (NYSE:ORCL) shares are sliding on Thursday as Technology stocks trade as the market's weakest pocket.

*business · news · 2026-04-23 · Benzinga*

## Key points

- Oracle has an estimated $550 billion backlog, surpassing AWS but trailing Microsoft Azure.
- OpenAI's $122 billion raise includes compute commitments from Oracle, Microsoft, and Amazon.
- Oracle's stock is bottoming at its 200-week moving average, historically signaling reversals.
- Oracle trades at a P/E of 33.7x, reflecting a premium valuation against software sector peers.
- The RSI at 73.61 suggests Oracle is in overbought territory, increasing cooldown risk.

**Companies:** Oracle Corp, Microsoft, Amazon
**Countries:** United States

[Read the full story on Benzinga](https://www.benzinga.com/markets/tech/26/04/52005473/oracle-ai-power-play-550-billion-backlog-defies-tech-slump)

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