오라클의 AI 파트너십과 4분기 실적

### 오라클의 수익 보고서 및 AI 파트너십 분석
* 💰 오라클은 수익, 매출, 클라우드 서비스 매출에서 모두 부진한 4분기 실적을 발표했지만 **인프라 클라우드 사업(OCI) 부문에서는 약 20%의 성장률**을 기록하며 선전했습니다.
* 📈 오라클은 매출의 약 **38%를 클라우드에서 창출**하고 있으며, 메가 데이터베이스 인구를 클라우드 비즈니스로 교차 판매할 수 있는 상당한 기회를 가지고 있기 때문에 업계에서는 **구글, 마이크로소프트, OpenAI와의 AI 파트너십**에 큰 기대를 걸고 있습니다.
* 🤖 오라클은 2025 회계연도 내내 강력한 AI 수요로 인해 매출과 RPO가 더욱 높아져 **이번 회계연도에 두 자릿수 매출 성장을 이룰 것**으로 예상하고 있습니다.
* 🏆 Sovis Trust의 선임 포트폴리오 매니저인 Dan Morgan은 **오라클을 스마트한 AI 플레이어이자 대규모 정부 고객 기반**을 바탕으로 뚜렷한 이점과 일관된 수익을 창출하는 데이터베이스 시장의 지배적인 업체로 평가합니다.
* 🤝 구글 클라우드 플랫폼(GCP) 및 마이크로소프트 애저와의 파트너십은 **오라클이 이러한 시장 선도업체와 협력**하여 클라우드 시장에서 점유율을 높일 수 있다는 점에서 매우 긍정적으로 평가됩니다.
* 🍏 팀 쿡은 최근 행사에서 Apple의 AI 비전과 전략을 공개하며 **현재 제품 믹스에 AI 기능을 통합하기 위한 로드맵**을 설명했습니다.
* 📈 발표 이후 애플의 주가는 **사상 최고가로 마감**했지만, 댄 모건은 높은 멀티플과 한 자릿수 성장 기대감에 따라 주가가 매우 확장된 것으로 보고 있지만, 소비스 트러스트에게는 **엄청난 성공**을 거둔 주식이라고 말합니다.
* 📱 9월에 **AI 기술이 적용된 새로운 iOS 18 운영체제와 개선된 Siri**가 탑재된 **iPhone 16이 출시될 예정**이므로, 의미 있는 iPhone 업그레이드 주기가 시작될 수 있다는 추측이 나오고 있습니다.

오라클의 엇갈린 실적 발표는 AI 파트너십과 클라우드 비즈니스 성장 가능성에 대한 기대감으로 인해 가려졌습니다.

Oracle just reported fourth-quarter earnings, as well as two separate AI partnerships moments ago. The stock seems to be rising on those announcements with Google, with Microsoft, and OpenAI. Joining us now, Dan Morgan, senior portfolio manager at Sovis Trust. So, we got a TW for or maybe even a three for, I guess, Dan, with the earnings and then these partnership announcements. What's your big takeaway here? What do you think is the most important thing that investors should be looking at from this news? Well, Julie, it's kind of a mixed report because, as you mentioned in the beginning, they missed on earnings, they missed on revenue, the all-important number which is cloud services revenue, which as you mentioned, they missed slightly, and we also saw the overall growth rate fall to about 20% compared to 25% in the third quarter. But then they beat on their OCI number, their Infrastructure Cloud business, as you mentioned, was a little bit better than expected, around two billion. So, it seems to me, guys, like the street is kind of pushing that aside, and they're really

just excited about these partnerships, and anything that Oracle can do to, you know, move forward their Cloud business, they're going to get excited about. I mean, they generate about 38% of their revenues right now from cloud, and Oracle's got a great opportunity. If they can cross-sell their huge mega-database population, which is about 400,000 installs, into their Cloud business, it'd be huge. So, I think that's what everybody's excited about, these partnerships. Yeah, and Dan, they're just talking to the exec, giving a little commentary, saying throughout fiscal 2025, they talk about continued strong AI demand to push Oracle sales and RPO even higher, result in double-digit revenue growth this fiscal year. You know, Dan, for investors listening right now, you know they're always thinking, looking for smart AI plays. Do you consider Larry Ellison's company to be one of them? Dan, you know we do. I mean, I look at Oracle as a dominant player in database. They have about 42% market share. They've been around forever, Josh. I've been

following for over 30 years, and they've got into all the other hot businesses in the past, and then they got into cloud. And you know they do have a bit of a distinct advantage over, let's say, an alphabet or Google with GCP. They're not quite as large, obviously, as AWS with Amazon, and AER with Microsoft, but they're gaining. They're gaining share. I mean there's still a single-digit market share, but they're high, you know, single digits, and they're moving up. If they can continue to, like I say, take advantage of this great opportunity they have with this huge installation base. And I think that's what the street sees. And we also see Josh consistency. Oracle is very consistent because of their customer base. It's heavily, uh, governmental. They have very reoccurring. About 70% of their revenues are reoccurring, so it's not as risky as, let's say, a high-flying software company that's hoping to close that deal by the end of the quarter so they can beat numbers and tan what what.

is the role that that Oracle is playing. You know when we hear about these new partnerships with OpenAI for its infrastructure what exactly like where does it fit in. That's a good question Julie. Unfortunately, I don't have perfect answer but I would expect because those are the leadership companies I mentioned Microsoft AER and they're really gaining market share right now in AWS. The fact that they're able to put together these partnerships and be able to work together opposed to working against each other is huge so I think that's why the street was reacting so positively uh to this announcement. I think Josh and Julie if we were to not have those announcements that they made with those partnerships with GCP and with AER um I think you might have gotten a little bit of a different reaction on this stock with this earnings report because of that miss that they had in cloud services. Dan I want to switch gears here a bit bit stick with the AI theme Dan um but interested listen Tim Cook took the

stage yesterday, and he kind of laid out his AI Vision, his AI strategy, and investors Dan, they were plenty excited about that today, that stock soared. What did you think, Dan? Were you as excited? Well, it's interesting, Josh, because you know everybody was really negative on Apple compared to the other megatechs in terms of their AI strategy, and we've talked about that before in the show. You everybody was unveiling this great upcoming roadmap, meta, alphabet, and really Apple was kind of being left behind. And so we're waiting for this developer conference for Tim Cook and company to come out and make their announcement, and there wasn't really too many big changes, Josh and Julie. I mean, instead of hitting like a grand slam home run like Nvidia with a Blackwell chip or you know Microsoft buying chat GBT, they're going to do it a little bit at a time with their current product mix, and they outline that roadmap at the meeting. So, um, I think it's a positive. It gets a new frame of thought surrounding.

Apple stock in terms of their AI initiatives, and it's not the old rerun that we've heard. That Apple's missing out, everybody's passing them up, and they definitely have a strategy, and they laid that out. And I think it was a positive. The stock closed today at a record. Dan, as people kind of took a second look at it, would you add to an Apple position right now? You know, Julie, we have a massive position in Apple. We started buying it back in 2005 at a cost basis of like A123 with all the split-adjusted time. Yeah, I mean, we actually added it to the buy list, and from the Bay Area, and I was out in California, and I was seeing things really taking off at that time with their MP3 player. This was before the iPhone, and we put it on the list. So, you know, it is a stock that just about everybody holds. Everybody has these huge concentrations in it because it's done so well. So, you know, for, you know, obviously investors that have the right

risk tolerance right objectives something that we'd look at there's no doubt. Josh and Julie the stock is very extended right now based on a multiple basis. If you're to look at let's say the growth that we're expecting out of it, which is kind of single digit, uh trades are pretty high multiple, uh but you know it's been on our list for a super long time. It's been a tremendously successful stock for us and you know it's just been a big winner so it's hard to turn your back to it. So it's definitely something that is on the list and we would continue to look at to purchase for the right investor with the right objective in risk tolerance. And last question, uh on Apple Dam you have been, you know a longtime shareholder there. Did you think what Tim cooking out yesterday, you know I think one big question investor is trying to figure out whether that kind of jump starts some iPhone meaningful iPhone upgrade cycle any thoughts there Den that's a great question Josh because you know they're going to come out

September with iPhone 16, they have the new iOS 18 operating system, which is laden with AI technology features. They also have the new revamp they're doing on the Siri. They have the Gemini relationship with Alphabet. So, is that enough to kind of gel that super cycle upgrade tick that we haven't really seen right guys in the last couple new releases? So, I think it could. I think we could make a strong case that, you know, with enough built-in AI features, people would want to go and get that new iPhone 16, as opposed to just kind of waiting around like they have in the past with iPhone 14 and iPhone 15. Dan, always great to have you. Thanks for joining us. Thank you.

Oracle releases Q4 earnings, stock jumps on cloud partnerships

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오라클의 4분기 실적과 AI 파트너십

오라클의 4분기 실적은 매출과 클라우드 서비스 매출에서는 부진했지만 인프라 클라우드 사업에서는 호조를 보였습니다.

투자자들이 오라클이 클라우드 비즈니스를 추진하고 대규모 데이터베이스 인구를 활용할 수 있는 잠재력에 대한 기대감으로 Google, Microsoft, OpenAI와의 두 가지 AI 파트너십을 발표하면서 주가가 상승하고 있습니다.

오라클은 AI 수요의 지속적인 강세로 인해 이번 회계연도에 두 자릿수 매출 성장을 보일 것으로 예상되며, 이는 투자자들에게 현명한 AI 플레이가 될 것입니다.

클라우드 컴퓨팅 시장에서 점점 더 커지는 오라클의 영향력

오라클은 클라우드 업계에서 약진을 거듭하며 AWS나 Microsoft Azure보다 규모는 작지만 점차 시장 점유율을 높여가고 있습니다.

오라클의 일관성과 대규모 정부 고객 기반은 반복 매출의 약 70%에 기여하여 위험 노출을 줄여줍니다.

OpenAI 및 GCP와 같은 파트너십을 맺는 오라클의 능력은 시장에서의 입지에 긍정적인 영향을 미치고 있으며 투자자들로부터 호평을 받고 있습니다.

애플의 AI 전략 발표와 주가 급등

개발자 컨퍼런스에서 애플의 AI 전략 발표는 투자자들을 흥분시켰고, 주가는 기록적인 상승세를 보였습니다.

현재 제품 믹스에 점진적으로 AI를 구현하는 데 집중하기로 한 애플의 결정은 AI 이니셔티브에 대한 부정적인 인식을 바꾸어 놓았습니다.

긍정적인 반응에 힘입어 그동안의 실적을 고려할 때 애플의 주식을 추가 매수하는 방안도 고려되고 있습니다.

주식 투자 및 애플 아이폰 업그레이드 주기 평가하기

해당 주식은 현재 적당한 성장 기대에도 불구하고 높은 거래 배수로 인해 고평가되어 있지만 투자자들에게는 오랫동안 성공적인 옵션으로 남아 있습니다.

이 주식의 매수 결정은 투자자의 위험 감내 능력과 목표에 따라 달라집니다.

팀 쿡의 발표가 아이폰 업그레이드 주기에 미칠 잠재적 영향은 애플 투자자들에게 중요한 고려 사항입니다.

iPhone 16의 iOS 18 및 AI 기능의 영향

iPhone 16은 새로운 iOS 18과 함께 출시될 예정이며, 고급 AI 기술과 개선된 Siri가 특징입니다.

알파벳의 제미니 프로젝트와의 관계는 잠재적으로 iPhone의 중요한 업그레이드 주기를 이끌 수 있습니다.

이러한 새로운 AI 기능은 사용자가 이전 릴리스와 차별화되는 iPhone 16으로 업그레이드하도록 동기를 부여할 수 있습니다.