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Oracle's stock surged 23% after the company dramatically raised its cloud infrastructure revenue projections, despite missing quarterly targets. The company secured four multibillion-dollar contracts, driving remaining performance obligations up 359% to $455 billion. Oracle projects OCI revenue to grow from $18 billion this year to $144 billion by 2030. Strategic partnerships with cloud hyperscalers and AI companies like OpenAI are fueling this growth, with 37 new data centers planned. While still trailing Microsoft Azure and AWS, Oracle's aggressive AI investments and cloud expansion are positioning it as a major player in the AI-driven cloud market.

Oracle has significantly increased its Oracle Cloud Infrastructure revenue forecast following several multibillion-dollar contracts, sending its shares to their highest single-day gain in decades. The company projects revenue to grow from $18 billion this fiscal year to $144 billion by 2030, with remaining performance obligations reaching $455 billion (up 359% year-over-year). While still trailing Amazon and Microsoft in cloud market share, Oracle is expanding its multicloud capabilities through partnerships with major providers and investing heavily in AI initiatives, including a major deal with OpenAI and plans for an AI Database service.

Oracle missed Q1 fiscal 2026 revenue estimates with $14.9 billion (up 12% YoY), despite strong cloud growth of 28% reaching $7.2 billion. Software revenue declined 1% to $5.7 billion. The company met earnings expectations with non-GAAP EPS of $1.47. Total performance obligations surged 359% to $455 billion, indicating substantial future business. Despite mixed results, Oracle shares have gained 43.1% year-to-date, outpacing the S&P 500. The company continues investing in AI and cloud infrastructure while transitioning from traditional software to cloud offerings.

Apple has unveiled its iPhone 17 series amid global trade tensions and potential tariff impacts. The company maintained its traditional pricing structure for the fifth consecutive year, with entry-level iPhones still priced between $800-$1,200, though the newest Pro model costs $100 more than last year's version. Apple is currently absorbing much of the impact from the Trump administration's 25% tariffs on Chinese-made iPhones rather than passing costs to consumers. Analysts warn that permanent tariff increases could eventually double or triple iPhone prices. The new devices feature camera improvements and innovative recording capabilities. Despite stock volatility, Apple's financial outlook remains stable, partly due to its lucrative Google search engine agreement.