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Oracle (ORCL) Shares Moved Higher in Q1

ClearBridge Investments, an investment management company, released its “ClearBridge Value Equity Strategy” first quarter 2024 investor letter. A copy of the letter can be downloaded here. The strategy outperformed the Russell 1000 Value Index in the first quarter. On an absolute basis, the strategy has gained 9 out of eleven sectors it invested in during the quarter. Financial and utilities sectors were the leading contributors while the real estate and healthcare sectors detracted. Overall stock selection and sector allocation contributed to returns relatively. In addition, please check the fund’s top five holdings to know its best picks in 2024.

ClearBridge Value Equity Strategy highlighted stocks like Oracle Corporation (NYSE:ORCL), in the first quarter 2024 investor letter. Oracle Corporation (NYSE:ORCL) offers products and services that address enterprise information technology environments. The one-month return of Oracle Corporation (NYSE:ORCL) was 19.33%, and its shares gained 22.30% of their value over the last 52 weeks. On July 2, 2024, Oracle Corporation (NYSE:ORCL) stock closed at $143.28 per share with a market capitalization of $394.86 billion.

ClearBridge Value Equity Strategy stated the following regarding Oracle Corporation (NYSE:ORCL) in its first quarter 2024 investor letter:

“Likewise, cloud computing software company Oracle Corporation (NYSE:ORCL) moved higher as it showed signs of tremendous growth in its signed backlog of bookings, helped in part by increasing agreements with its major generative AI vendor customers.”

A team of IT professionals meticulously crafting a large-scale enterprise performance management system.

Oracle Corporation (NYSE:ORCL) is in 27th position on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 96 hedge fund portfolios held Oracle Corporation (NYSE:ORCL) at the end of the first quarter which was 100 in the previous quarter. Oracle Corporation (NYSE:ORCL) full fiscal year revenue reached $53 billion, representing a 6% growth. While we acknowledge the potential of Oracle Corporation (NYSE:ORCL) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

We discussed Oracle Corporation (NYSE:ORCL) in another article and shared the list of best stocks to diversify your portfolio. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.

Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

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