What's Driving Oracle Stock Now? Irony.
Why is Oracle stock up over the past month? A healthy market helps, to be sure. But a deal with salesforce.com might also have something to do with it, says Fool contributor Tim Beyers in the following video.
According to a June press release, Salesforce is going to "standardize" on a number of Oracle products -- including hardware. Talk about irony. Salesforce was, at one time, best known for using off-the-shelf gear to construct the world's largest cloud computing platform. Now Oracle takes over.
Can you imagine? Salesforce chief Marc Benioff has said Oracle was selling customers a "false cloud." Now the company is trusting at least some of its clients to the database king's tech.
Interestingly, the news came ahead of yet another strong quarter from Salesforce's closest peer in cloud computing, NetSuite . Revenue grew 35% as the company beat the consensus earnings estimate by $0.03 a share. The stock is about to cross $100 for the first time.
Oracle CEO Larry Ellison owns a meaningful chunk of NetSuite shares, which means he's been profiting from the cloud even while downplaying importance. Now -- finally, with the Salesforce agreement -- his company gets to say the same.
Will it matter? Please watch the video to get Tim's full take, and then let us know whether you would buy, sell, or short Oracle stock at current prices. We'll pay you back with a tip.
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The article What's Driving Oracle Stock Now? Irony. originally appeared on Fool.com.Tim Beyers owns shares of Google and Salesforce. The Motley Fool recommends Facebook, Google, Netsuite, and Salesforce. The Motley Fool owns shares of Facebook, Google, and Oracle. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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