Oracle(US:ORCL) 财联社·2025-12-17 23:39Core Viewpoint - The article highlights a significant market pullback in major indices, particularly in AI-related stocks, driven by concerns over Oracle's debt levels and spending, following the withdrawal of a key investor from a major data center project [1][3][4]. Market Performance - On the day of reporting, the Dow Jones index fell by 0.47% to 47,885.97 points, the S&P 500 dropped by 1.16% to 6,721.43 points, and the Nasdaq index decreased by 1.81% to 22,693.32 points [3]. - Oracle's stock declined by 5.4% amid reports of financial concerns related to a $10 billion data center project in Michigan, which was not financed as planned [3][4]. Investor Sentiment - Despite Oracle's denial of the project being halted, market sentiment remained negative, leading to significant declines in other AI-related stocks, including Broadcom (down over 4%), Nvidia (down nearly 4%), AMD (down over 5%), and Google (down over 3%) [4]. - Brian Mulberry from Zacks Investment Management noted a clear rotation from large-cap growth stocks to large-cap value stocks, indicating a defensive positioning by investors in anticipation of future market conditions [4]. Trends and Predictions - Since December, several AI concept stocks, including Oracle and Broadcom, have seen notable declines, with Oracle and Broadcom down over 11% and approximately 19% respectively this month [4]. - Mulberry predicts that the trend of moving away from overvalued stocks towards more reasonably valued sectors will continue until 2026, potentially leading to market volatility due to uncertainties in monetary policy [4]. Key Indicators - The article emphasizes the importance of monitoring key indicators, such as free cash flow, to assess when and where profitability in the AI sector may turn around, as free cash flow cannot be easily manipulated [5]. - The article also mentions that Medline, a medical supplies giant, had a successful IPO, raising $6.26 billion, marking the largest IPO in the U.S. since 2021 [5]. Stock Performance Overview - Major tech stocks experienced declines, with Nvidia down 3.81%, Apple down 1.01%, Microsoft down 0.06%, Google down 3.21%, Amazon down 0.58%, Meta down 1.16%, Tesla down 4.62%, Broadcom down 4.48%, and Oracle down 5.40% [6]. - Chinese concept stocks also faced downward pressure, with the Nasdaq Golden Dragon China Index down 0.73%, and notable declines in Alibaba, JD.com, Pinduoduo, and NIO [6].