<p>任何对甲骨文（Oracle）在纽约证券交易所（NYSE: ORCL）第一季度指导更新感到惊讶的人，显然没有关注新闻动态。甲骨文的前瞻性指标在过去一年中一直在加速，因为它正在积极投入人工智能（AI）驱动的服务以及为 AI 开发者和应用提供的服务。</p>
<p>关键的结论是，甲骨文不再是科技领域的一个小众参与者，而是全球 AI 基础设施中的重要环节，成为一个 <strong>不可忽视的超大规模云服务商</strong>。</p>
<p>在第一季度发布的细节中，现有超大规模云服务商的需求强劲，以及他们带来的增长预测引人注目。甲骨文董事长兼首席技术官拉里·埃里森（Larry Ellison）表示，来自包括亚马逊、谷歌和微软在内的三大超大规模云服务商的收入在第一季度增长了超过 1500%（是的，这是百分点而不是基点），预计在未来几年将继续强劲增长。</p>
<p>他预测甲骨文的数据中心规模将增加超过 100%，并在未来几年每个季度推动可观的增长。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/logos/articles/med_20250910075110_chart--9102025.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/logos/articles/med_20250910075110_chart--9102025.png"/></p>
<h2>甲骨文的失利被强劲的指导和加速的剩余履约义务所掩盖</h2>
<p>甲骨文的第一季度业绩低于分析师的预期，但有两个因素抵消了这一弱点。首先，甲骨文的收入增长了 12.3%，接近 150 亿美元，随着云基础设施需求激增，其增长速度在环比和同比上都加快了。</p>
<p>第二个因素是指导中提到的剩余履约义务（RPO）增长了 359%，这一数据令人震惊。</p>
<p>首席执行官萨夫拉·卡茨（Safra Catz）表示，大部分指导基于现有的签署合同，并且还有 <strong>多个数十亿美元的超大规模交易在洽谈中。</strong> 在这种情况下，指导可能会比较谨慎，增长将超过管理层的强劲预期。</p>
<p>从各个业务板块来看，甲骨文在云业务方面表现强劲。第一季度总云收入增长了 28%，基础设施即服务（IaaS）增长了 55%，软件即服务（SaaS）增长了 11%。在软件板块中，Cloud Fusion ERP 增长了 17%，NetSuite 增长了 16%。</p>
<p>利润率的消息则是另一种混合情况，受到指导的影响。第一季度的业绩包括超出预期的利润率，尽管收入表现疲软，调整后的每股收益（EPS）仍上涨 6%，达到 1.47 美元，距离 MarketBeat 的共识仅差一美分。</p>
<p>然而，根据指导，预计未来几个季度的利润和收益将显著改善，收入杠杆可能会非常强劲。</p>
<p>截至九月初，分析师预测甲骨文的收入增长将在 2028 年前加速至约 35%，这一预测显然过低。公司预计其 <strong>云业务将实现三位数的增长</strong>，并至少维持两年，未来三年将继续以强劲的速度增长。</p>
<p>云业务目前已占净收入的约 50%，实现三位数的增长相当于相对于第一季度净收入的 50% 增长。</p>
<h2>甲骨文的乐观分析师趋势将在第三季度和第四季度增强</h2>
<p>分析师对甲骨文消息的初步反应是一片沉默，因为他们在消化这一令人震惊的数据。第二个反应是几位分析师提高了目标价，<strong>将目标上调 20% 至 30%</strong>，形成了一个新的高端区间，预测较发布前的收盘高点增长 70%。</p>
<p>发布后的 30% 涨幅已经消耗了一部分潜力，但仍有很多机会留给投资者。随着季度的推进，分析师可能会继续提高他们的目标，可能会增加高端目标和共识。</p>
<p><strong>技术形势在发布前非常乐观</strong>，市场处于上涨模式，MACD 在多个时间框架内趋于一致。</p>
<p>30% 或 75 美元的涨幅仅占预期涨幅的 75%，这表明该股票可能在达到第一个重要阻力点之前上涨至 340 美元区域。</p>
<h2>你现在应该投资 1000 美元在甲骨文吗？</h2>
<p>在你考虑甲骨文之前，你需要听听这个。</p>
<p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已经识别出五只股票，顶级分析师正在悄悄地向客户推荐，现在就买入，以便在更广泛的市场意识到之前……而甲骨文并不在名单上。</p>
<p>虽然甲骨文目前在分析师中获得了中等买入评级，但顶级分析师认为这五只股票更值得投资。</p>
<p>在这里查看这五只股票</p>

甲骨文

<p>Oracle 的第一季度指引显示出强劲的增长，主要受到人工智能和超大规模云服务需求的推动，预计收入将显著上升。尽管第一季度的业绩未能达到预期，但收入仍增长了 12.3%，接近 150 亿美元，剩余履约义务激增 359%。分析师预测，Oracle 的收入增长可能在 2028 年前加速至 35%，云业务将实现三位数的增长。在公告发布后，分析师将目标价上调了 20-30%，暗示股票还有进一步升值的潜力。Oracle 的股票目前被评为适度买入，但一些分析师建议考虑其他股票</p>

<p>Anyone surprised by Oracle’s NYSE: ORCL Q1 guidance update has not been paying attention to the news stream. Oracle’s forward-looking metrics have been accelerating for over a year as it leans into AI-enabled services and services for AI developers and applications.</p>
<div class="lb-trans"><p>任何对甲骨文（Oracle）在纽约证券交易所（NYSE: ORCL）第一季度指导更新感到惊讶的人，显然没有关注新闻动态。甲骨文的前瞻性指标在过去一年中一直在加速，因为它正在积极投入人工智能（AI）驱动的服务以及为 AI 开发者和应用提供的服务。</p>
</div><p>The critical takeaway is that Oracle is no longer a niche player in tech, one of many database companies to choose from, but a vital link in AI infrastructure globally and a <strong>hyperscaler to be contended with</strong>.</p>
<div class="lb-trans"><p>关键的结论是，甲骨文不再是科技领域的一个小众参与者，而是全球 AI 基础设施中的重要环节，成为一个 <strong>不可忽视的超大规模云服务商</strong>。</p>
</div><p>Among the details coming out of the Q1 release is the strength of demand from existing hyperscalers and the growth forecast they bring into the picture. Oracle Chairman and CTO Larry Ellison says revenue from the leading three hyperscalers, including Amazon, Google, and Microsoft, grew by more than 1,500% (yes, that is percentage points and not basis points) in Q1 and is expected to grow robustly over the next few years.</p>
<div class="lb-trans"><p>在第一季度发布的细节中，现有超大规模云服务商的需求强劲，以及他们带来的增长预测引人注目。甲骨文董事长兼首席技术官拉里·埃里森（Larry Ellison）表示，来自包括亚马逊、谷歌和微软在内的三大超大规模云服务商的收入在第一季度增长了超过 1500%（是的，这是百分点而不是基点），预计在未来几年将继续强劲增长。</p>
</div><p>He forecasts that Oracle’s datacenter footprint will increase by more than 100% and drive substantial growth every quarter for years.</p>
<div class="lb-trans"><p>他预测甲骨文的数据中心规模将增加超过 100%，并在未来几年每个季度推动可观的增长。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/logos/articles/med_20250910075110_chart--9102025.png" alt="" original-src="https://www.marketbeat.com/logos/articles/med_20250910075110_chart--9102025.png"/></p>
<h2>Oracle’s Miss Overshadowed by Strong Guidance, Accelerating RPO</h2>
<div class="lb-trans"><h2>甲骨文的失利被强劲的指导和加速的剩余履约义务所掩盖</h2>
</div><p>Oracle’s Q1 results came in below the analysts' forecasts, but two things offset the weakness. The first is that Oracle grew its revenue by 12.3% to nearly $15 billion, accelerating its growth sequentially and compared to the prior year as demand for cloud infrastructure spiked.</p>
<div class="lb-trans"><p>甲骨文的第一季度业绩低于分析师的预期，但有两个因素抵消了这一弱点。首先，甲骨文的收入增长了 12.3%，接近 150 亿美元，随着云基础设施需求激增，其增长速度在环比和同比上都加快了。</p>
</div><p>The second is that the guidance, which includes a 359% increase in the remaining performance obligation or RPO, was jaw-dropping.</p>
<div class="lb-trans"><p>第二个因素是指导中提到的剩余履约义务（RPO）增长了 359%，这一数据令人震惊。</p>
</div><p>CEO Safra Catz says most of the guidance is based on existing, signed contracts with more <strong>multi-billion-dollar hyper-scale deals in the pipeline.</strong> The guidance is likely to be cautious in this scenario, and growth will exceed even management’s robust outlook.</p>
<div class="lb-trans"><p>首席执行官萨夫拉·卡茨（Safra Catz）表示，大部分指导基于现有的签署合同，并且还有 <strong>多个数十亿美元的超大规模交易在洽谈中。</strong> 在这种情况下，指导可能会比较谨慎，增长将超过管理层的强劲预期。</p>
</div><p>Segmentally, Oracle’s strength was in the cloud. Q1 total cloud revenue grew by 28% on a 55% increase in infrastructure-as-a-service (IaaS) and an 11% increase in software-as-a-service (SaaS). Within the software segment, Cloud Fusion ERP grew by 17% and NetSuite by 16%.</p>
<div class="lb-trans"><p>从各个业务板块来看，甲骨文在云业务方面表现强劲。第一季度总云收入增长了 28%，基础设施即服务（IaaS）增长了 55%，软件即服务（SaaS）增长了 11%。在软件板块中，Cloud Fusion ERP 增长了 17%，NetSuite 增长了 16%。</p>
</div><p>Margin news is another mixed bag, offset by the guidance. The Q1 results include a stronger-than-expected margin, offset by the top-line weakness, which left the adjusted EPS up 6% to $1.47 and a penny shy of MarketBeat’s consensus.</p>
<div class="lb-trans"><p>利润率的消息则是另一种混合情况，受到指导的影响。第一季度的业绩包括超出预期的利润率，尽管收入表现疲软，调整后的每股收益（EPS）仍上涨 6%，达到 1.47 美元，距离 MarketBeat 的共识仅差一美分。</p>
</div><p>However, based on the guidance, profits and earnings are expected to improve significantly in the upcoming quarters, and the revenue leverage could be robust.</p>
<div class="lb-trans"><p>然而，根据指导，预计未来几个季度的利润和收益将显著改善，收入杠杆可能会非常强劲。</p>
</div><p>As of early September, analysts forecast Oracle’s revenue growth to accelerate to approximately 35% by 2028, which is far too low. The company anticipates its <strong>cloud business will achieve triple-digit growth</strong>, sustain it for at least two years, and continue growing at a strong pace for the next three years.</p>
<div class="lb-trans"><p>截至九月初，分析师预测甲骨文的收入增长将在 2028 年前加速至约 35%，这一预测显然过低。公司预计其 <strong>云业务将实现三位数的增长</strong>，并至少维持两年，未来三年将继续以强劲的速度增长。</p>
</div><p>The cloud business already accounts for approximately 50% of the net, and achieving triple-digit growth is equivalent to 50% growth relative to the Q1 net.</p>
<div class="lb-trans"><p>云业务目前已占净收入的约 50%，实现三位数的增长相当于相对于第一季度净收入的 50% 增长。</p>
</div><h2>Oracle’s Bullish Analysts Trends to Strengthen in Q3 and Q4</h2>
<div class="lb-trans"><h2>甲骨文的乐观分析师趋势将在第三季度和第四季度增强</h2>
</div><p>The initial analysts’ response to Oracle’s news was a moment of silence as they assimilated the jaw-dropping data. The second response was for several to issue price target increases, <strong>lifting their targets by 20% to 30%</strong>, creating a new high-end range forecasting a 70% increase from the pre-release closing high.</p>
<div class="lb-trans"><p>分析师对甲骨文消息的初步反应是一片沉默，因为他们在消化这一令人震惊的数据。第二个反应是几位分析师提高了目标价，<strong>将目标上调 20% 至 30%</strong>，形成了一个新的高端区间，预测较发布前的收盘高点增长 70%。</p>
</div><p>The 30% post-release gain has eaten up some of the potential, but plenty remains for investors. Analysts will likely continue lifting their targets as the quarter progresses, potentially increasing the high end and the consensus along with it.</p>
<div class="lb-trans"><p>发布后的 30% 涨幅已经消耗了一部分潜力，但仍有很多机会留给投资者。随着季度的推进，分析师可能会继续提高他们的目标，可能会增加高端目标和共识。</p>
</div><p>The <strong>technical setup was very bullish</strong> ahead of the release, with the market in rally mode and MACD converging in numerous time frames.</p>
<div class="lb-trans"><p><strong>技术形势在发布前非常乐观</strong>，市场处于上涨模式，MACD 在多个时间框架内趋于一致。</p>
</div><p>The 30% or $75 increase is only 75% of the move indicated, suggesting this stock could advance to the $340 region before hitting the first significant resistance point.</p>
<div class="lb-trans"><p>30% 或 75 美元的涨幅仅占预期涨幅的 75%，这表明该股票可能在达到第一个重要阻力点之前上涨至 340 美元区域。</p>
</div><h2>Should You Invest $1,000 in Oracle Right Now?</h2>
<div class="lb-trans"><h2>你现在应该投资 1000 美元在甲骨文吗？</h2>
</div><p>Before you consider Oracle, you'll want to hear this.</p>
<div class="lb-trans"><p>在你考虑甲骨文之前，你需要听听这个。</p>
</div><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Oracle wasn't on the list.</p>
<div class="lb-trans"><p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已经识别出五只股票，顶级分析师正在悄悄地向客户推荐，现在就买入，以便在更广泛的市场意识到之前……而甲骨文并不在名单上。</p>
</div><p>While Oracle currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p>
<div class="lb-trans"><p>虽然甲骨文目前在分析师中获得了中等买入评级，但顶级分析师认为这五只股票更值得投资。</p>
</div><p>View The Five Stocks Here</p>
<div class="lb-trans"><p>在这里查看这五只股票</p>
</div>

甲骨文公司已经表态：人工智能将改变一切