基于庞大的RPO订单储备和低估值，Oracle是长期首选标的；看多并持有该股。
逐段跳播
在这种情况下，虽然我对前三只股票不太感兴趣，但在当前价格下，我对这只股票印象非常深刻。这就是那家历史悠久的科技巨头，它通过自我重塑成为一家主要的云计算服务提供商，即甲骨文，代码为 ORCL，Cohen 将其持股几乎增加了两倍，额外买入了超过 3 亿美元的股票。
In this case, although I wasn't very interested in the previous three stocks, I am very impressed with this stock now at the current prices. It is the long-established technology giant that has reinvented itself to become a major provider of cloud computing services, Oracle, codenamed ORCL, in which Cohen nearly tripled his stake, acquiring more than $300 million in additional shares.
其中 Cohen 将其持股几乎增加了两倍，额外买入了超过 3 亿美元的股票。我知道我在频道里经常谈论这个话题，所以这里我尽量简短。但没错，从长期来看我对此非常乐观。如果你想知道人工智能目前发展得有多快，只要看看甲骨文最新的财报就知道了，其中销售额和利润均增长超过 30%，超出分析师的预期。
这背后的主要驱动力是云基础设施业务，其规模翻了一倍多，实现了 121% 的同比增长。
in which Cohen nearly tripled his stake , acquiring more than $300 million in additional shares. I know I talk about this topic a lot on the channel, so I'll try to be brief here.
But yes, I am very optimistic about it in the long term. If you want to know how fast artificial intelligence is currently booming, just look at Oracle’s latest earnings report, where sales and profits rose by more than 30% each, exceeding analysts’ expectations.
The main driver behind this was the cloud infrastructure business, which more than doubled in size, achieving 121% year-on-year growth.
如果你想知道人工智能目前发展得有多快，只要看看甲骨文最新的财报就知道了，其中销售额和利润均增长超过 30%，超出分析师的预期。
If you want to know how fast artificial intelligence is currently booming, just look at Oracle’s latest earnings report , where sales and profits rose by more than 30% each, exceeding analysts’ expectations.
然而，这并不是最重要的故事。真正的飞跃尚未到来，而这与该公司为未来锁定的剩余履约义务（RPO）有关。它其实就是一份已签署但尚未交付的合同清单。其规模目前达到 6640 亿美元，也就是超过 5000 亿美元。
现在，从更宏观的角度来看，我们发现订单积压量几乎是该公司去年全年总销售额的九倍。
However, this is not the most important story. The real leap is yet to come, and it relates to what the company has been able to secure for the future as residual performance commitments (RPOs).
It is simply a list of its signed contracts that have not yet been delivered. Its size now stands at $664 billion, or more than half a trillion dollars. Now, to look at it from a broader perspective, we find that the backlog of orders is almost nine times greater than the total sales the company achieved in the entire last year.
换句话说，这是一家历史悠久的巨头，如今已成为全球领先、最受欢迎的云计算服务提供商之一，它使用一种专有网络技术，将数千个 Nvidia 和 AMD 图形处理单元连接在一起，速度超过传统网络，使客户能够以超快速度训练大规模 AI 模型。
所有这些都比以往任何时候都更吸引 AI 开发者。因此，xAI、Meta 和 OpenAI 等领先公司目前正竞相使用其基础设施。
In other words, this is a long-established giant that has now become one of the world’s leading and most in-demand cloud computing service providers, using a proprietary networking technology that connects thousands of Nvidia and AMD graphics processing units together at speeds exceeding those of traditional networks, allowing customers to train massive AI models at super-fast speeds.
All of this is attracting AI developers more than ever before. For this reason, leading companies such as xAI, Meta and OpenAI are currently racing to use its infrastructure.
然而，由于这些积压订单中有很大一部分与 OpenAI 直接相关，并且由于甲骨文庞大的基础设施支出几乎耗尽了其全部自由现金流，尽管未来几年预计将实现大幅增长，甲骨文的股票在市场上表现不佳。
However, because a large portion of these backlogs are directly related to OpenAI, and because of Oracle's massive infrastructure spending, which drains almost all of its free cash flow, Oracle's stock has underperformed in the market despite the massive growth expected in the coming years.
从长期来看，我认为甲骨文将处于非常有利的位置，而且鉴于其估值极低，市盈率远低于行业平均水平的 50% 以上，我会轻松地把这只股票排在这里其他股票中的首位。
In the long run, I think Oracle will be in an excellent position, and given its extremely low valuation, which is well below the sector averages of over 50% in terms of price-to-earnings ratio, I would easily put this stock at the top of the list among the other stocks here.
我自己也买了很多。所以，我很高兴看到 Cohen 对它如此乐观。这让我对自己的投资感到安心。
I've bought a lot of it myself too. So, I'm pleased to see Cohen so optimistic about it. This makes me feel good about my investment.
但对我个人而言，甲骨文是这份名单上唯一让我感兴趣的，坦率地说，我对它印象非常深刻，所以它是我最喜欢的选择。
But for me personally, Oracle is the only one that interests me on this list, and frankly, I'm very impressed with it, so it's my favorite choice.
这个频道对 $ORCL 的历次判断
Ale's World of Stocks 在这只股票上共 2 条判断，这里只列相邻的几条。