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Oracle Corp (NYSE:ORCL) shares are sliding on Thursday as Technology stocks trade as the market's weakest pocket.
Oracle has an estimated $550 billion backlog, surpassing AWS but trailing Microsoft Azure.
KEY POINTS
- 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
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