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Oracle Stock Slides After Earnings Announcement

Sep 13, 2023 (MENAFN via COMTEX) --
(MENAFN - ValueWalk) (Free Video) The 2 Secrets To Finding Small-Cap, Hidden Gem Stock Opportunities To Dramatically Grow Your Portfolio Going Into Q4.

In his Daily Market Notes report
to investors,
Louis Navellier wrote:

Table of Contents Show
  • Defying Weakness
  • Attractive Energy
  • Upgrade Slowdown
  • Oracle Stock Slides
  • Coffee Beans: Haunted. Defying Weakness

    Stocks holding on to most of yesterday's gains. Interest rates are flat. Crude oil breaks $89.

    Stocks went out on a high yesterday, defying the September reputation of the worst month of the year.

    Attractive Energy

    Energy continues its strong run: The XLE ETF is up 1.3% on higher crude prices, now up 3.5% for September, 12.6% for 3Q23, and 9.1% YTD. Energy remains attractive on a fundamental basis; consider Exxon Mobil (NYSE:XOM), the largestoil company, has only a 9.3X P/E (5.3X EV/EBITDA) and a 3.2% dividend yield.

    While the push for green energy, especially electric vehicles, has some investors concerned
    about the long-term prospects for oil demand, the shift away will likely take much longer than hoped and will require a significant increase in electricity demand whose base load is still best served by natural gas generation.

    Upgrade Slowdown

    Today is Apple 's (NASDAQ:AAPL) rollout of new iPhones, iPads, watches, headphones, etc. There are certainly questions regarding the slowdown in their upgrade cycle as after the move to 5G and high pixel cameras, an increasing number of consumers are not motivated to replace their phones for incremental improvements in processing speed, battery life, even better cameras, etc.

    Their phones are"good enough", especially when budgets are tight. We've seen the same slowdown in PC upgrades. Apple is down 1.6% today before the presentation, down 6% in September following the China call for state
    employees to not bring iPhones to work, but still up 41% YTD primarily from multiple expansions.

    Oracle Stock Slides

    Oracle (NYSE:ORCL) is down 12.2% today (+32.8% YTD), after a slight miss on the top and a small beat on the bottom for its first fiscal quarter, due to weaker guidance. Their comments on the cloud markets have pulled down other players in that sector, another sign of cooling expectations of AI enthusiasm.

    Do you know which under-the-radar stocks the top hedge funds and institutional investors are investing in right now? Click here to find out .

    As the trading day continues stocks have given back all of yesterday's gains and then some with only the Dow in the green. So far, however, this September is still doing a lot better than historical trends.

    Coffee Beans: Haunted.

    A"cursed" portrait of a little girl that has twice been returned to a charity shop for being"haunted" has been sold for more than £1,680 ($2090) in an online auction. Source: Sky News. See the full story here .

    (Free Video) The 2 Secrets To Finding Small-Cap, Hidden Gem Stock Opportunities To Dramatically Grow Your Portfolio Going Into Q4.

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