15 Best American Tech Stocks to Buy Right Now

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9. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders: 124

Oracle Corporation (NYSE:ORCL) is one of the best American stocks to buy right now in the tech industry. On September 22, Jefferies reaffirmed its Buy rating on Oracle Corporation (NYSE:ORCL) with a price target of $360.

This decision came after Oracle Corporation (NYSE:ORCL) announced that Clay Magouyrk and Mike Sicilia were promoted to co-CEOs. Safra Catz, who has served as the company’s CEO since 2014, was named Executive Vice Chair of the Board of Directors.

Jefferies sees these changes in leadership as a sign of Oracle Corporation’s (NYSE:ORCL) strength as it moves forward with its AI strategy.

The firm also highlighted Safra Catz’s strong performance when she was the sole CEO. Since September 2019, Oracle Corporation (NYSE:ORCL) has gained 468%, which compares to the S&P 500’s 121% rise during the same time.

Jefferies credited Catz with guiding the company successfully from the cloud era into the AI era while also helping accelerate growth in both sales and backlog.

However, the firm expressed caution about the co-CEO setup. Jefferies noted that Oracle Corporation (NYSE:ORCL) underperformed the S&P 500 during the first 5 years of Catz’s co-CEO time, with the stock price rising 35% only versus the S&P 500’s 49% gain.

Oracle Corporation (NYSE:ORCL) is an American multinational computer technology company specializing in database software, cloud infrastructure, and enterprise software solutions. The company offers one of the industry’s broadest and deepest suites of AI-powered cloud applications.

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