Oracle stock price 8.7% lower as Broadcom AI chip growth slows
Oracle shares fell % on Friday. Selling pressure emerged across technology stocks after Broadcom’s earnings report showed that AI chip sales growth could be slower than expected. Analyst John DiFucci maintained a buy rating, keeping the price target at $ while citing Oracle’s access to data centers.8.7Broadcom’s earnings report showed that AI chip sales growth could be slower than expected, prompting selling across technology stocks.400Analyst John DiFucci maintained a buy rating, keeping the price target at $ while citing Oracle’s access to data centers.
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Oracle shares fell % on Friday. The decline came amid a broad sell-off in technology stocks. Market selling pressure was widespread.8.7The decline came amid a broad sell-off in technology stocks. Market selling pressure was widespread.
The sell-off was triggered after Broadcom’s earnings report was released. The report included the possibility that AI chip sales growth could be slower than expected. This information reverberated across the technology sector.
Oracle was among the stocks that posted significant declines in the sell-off. Its shares fell sharply in Friday trading. Market sentiment changed rapidly over a short period.
Analyst John DiFucci maintained a “Buy” rating on Oracle. He set a price target of 400dollars. DiFucci said Oracle is well positioned to provide data center access to AI companies such as OpenAI.
Despite this decline, some analysts are maintaining their ratings based on Oracle’s business structure. The company’s data center-related activities were cited as the basis for the investment opinion. Related figures are drawing attention in additional announcements or quarterly results.
Sources: The Motley Fool
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