Oracle (NYSE: ORCL) chairman and chief technology officer Larry Ellison believes the software giant can gain share in the booming cloud market. Judging by the 15% jump in Oracle's stock price today, investors seem to agree. Cowen analyst J. Derrick Wood reiterated his outperform rating on Oracle's shares following the tech titan's impressive fiscal 2022 second-quarter report. In turn, Wood sees its stock price rising roughly 12% to $115. Read More...
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Why Broadcom Stock Jumped Today
Shares of Broadcom (NASDAQ: AVGO) climbed 8.3% on Friday after the chipmaker said it would return more cash to shareholders in the year ahead. Revenue in the company’s semiconductor solutions and infrastructure software divisions increased 17% and 8%, respectively, to $5.6 billion and $1.8 billion. “Broadcom concluded the year with record fourth-quarter results driven by a rebound in enterprise, and continued strength from cloud and service provider demand,” CEO Hock Tan said in a press release. Broadcom’s free cash flow, meanwhile, grew 6%.
