We're scooping up shares of this software giant on the belief cloud growth will soar

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With the stock down about 20% since September, we continue to see the recent sell-off as a buying opportunity.

We are buying 50 shares of Oracle , at roughly $105.18 apiece. Following Wednesday's trade, Jim Cramer's Charitable Trust will own 775 shares of ORCL, increasing its weighting in the portfolio to 3% from 2.82%. Software giant Oracle hasn't reported this earnings season — the company is so-called off-cycle, with its next release expected in December — but we believe recent industry commentary bodes well for the company and are, therefore, adding to our position.

Notably, Oracle stock is still trading a few dollars lower than the level it reached ahead of the company's AI Executive Forum event on Oct.19. The stock lost roughly 6% thereafter on investor concerns that the revenue contribution from AI workloads will take longer to recognize than previously thought. But as noted when we added to our position on Oct. 23, the sell-off was an overaction.

 

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