Oracle(US:ORCL) 天天基金网·2025-10-18 06:52Core Viewpoint - The article discusses the significant decline in Oracle's stock price due to investor concerns regarding the profitability of its AI data center business, particularly its GPU leasing operations, which have shown disappointing margins compared to overall company performance [4][10][11]. Group 1: Stock Performance - On October 17, Oracle's stock price dropped by 6.93%, marking its worst single-day performance since January [6][8]. - The stock closed at $304.28, with a trading volume of 37.65 million shares, and has a market capitalization of approximately $471.05 billion [7][9]. Group 2: Profitability Concerns - Oracle's GPU leasing business has reported a gross margin of only about 16% over the past five quarters, significantly lower than the company's overall gross margin of approximately 70% [4][10]. - In the most recent quarter, Oracle generated around $900 million in revenue from NVIDIA chip leasing, with a gross profit of only $125 million, resulting in a gross margin of 14% [10]. Group 3: Future Projections - Oracle has projected that its AI infrastructure business will achieve a gross margin of 30% to 40% by 2030, aiming to reassure investors about its long-term profitability [14]. - The company expects its cloud business revenue to reach $166 billion by fiscal year 2030, a 15% increase from previous forecasts, and total revenue to hit $225 billion, exceeding analyst expectations [15]. Group 4: Market Reactions and Analyst Opinions - Analysts have expressed skepticism about Oracle's ability to sustain its stock price growth based solely on projected AI growth, especially if the AI hype diminishes [11][12]. - Concerns have been raised regarding Oracle's capital expenditure plans and how they align with the anticipated growth in cloud infrastructure revenue [12].