Yahoo Finance Oracle (ORCL) Plans to Open Second Cloud Region in Singapore
Oracle ORCL recently announced its plan to open the second cloud region in Singapore. This would strengthen Oracle’s commitment to South East Asia.
Oracle is expanding to meet the fast-growing demand of its cloud services. This would be one of the fastest expansions of a cloud provider. This new region is one of the 10 planned regions set to join the 41 regions that Oracle currently operates.
This expansion will offer Oracle’s private and public sector customers a viable option to relocate their data, applications and infrastructure for optimal performance. This cloud region will offer wide range of cloud services ranging from modernizing applications to migrating workloads from the company’s data centers to Oracle Cloud Infrastructure (OCI).
The new Oracle Cloud Singapore Region will consist more than 100 OCI services and applications, including Oracle Autonomous Database, MySQL HeatWave Database Service, Oracle Container Engine for Kubernetes and Oracle Cloud VMware Solution.
Currently, Oracle Cloud Regions include nine regions in Asia Pacific, 10 in America, 10 in Europe, three regions in the Middle East, one region in Africa, four government regions and a few National Security regions.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
Why is Oracle Cloud Better Than Its Competitors?
This Zacks Rank #3 (Hold) company is constantly working to be more valuable to the customers than its competitors. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Oracle have increased 13.3% in the past year against the Zacks Computer and Technology sector’s decline of 13.2% in the same period.
The Zacks Consensus Estimate for ORCL’s fourth-quarter 2022 is pegged at a profit of $1.58 per share, which has risen from $1.48 per share in the past 30 days. The Zacks Consensus Estimate for revenues is pegged at $13.74 billion, indicating year-over-year growth of 16.04%.
Oracle Cloud Infrastructure is made for firms looking for lower costs, higher efficiency, easier cloud migration for its applications and closer deployment to end users. It also offers a wide range of relevant services.
Oracle Cloud is competing with giants like Microsoft’s MSFT Azure, Alphabet’s GOOGL Google cloud and Amazon’s AMZN Web Services.
According to a OCI report, Oracle Cloud is better than AWS, Azure and Google Cloud because it can migrate and run any workload on Oracle, consume cloud services in any public cloud and it is easy to implement security practices. Oracle Cloud offers lower risks and costs cheaper as well. Azure customers can also access Oracle Database services in OCI as an Azure service without leaving the Azure ecosystem.
With growing demand for multi-cloud infrastructures, Oracle should partner with giants rather than competing with those companies. The multi-cloud offers more features and flexibility to the users. Oracle will be looking to forge more partnerships like Azure in the coming quarters.
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