Oracle (ORCL) extends its business application to developers

Oracle ORCL recently announced that it is making the design system and platform that powers its applications available to its customers and partners to extend its Oracle business applications.

This would allow organizations to leverage Redwood UX components, advanced technologies such as search, self-learning recommendations, and conversational experiences, as well as telemetry and low-code development tools, to quickly and easily deliver secure applications that complement and integrate seamlessly with Oracle’s comprehensive offering. suite of cloud applications.

Commercial applications will allow customers and partners access to the same tools used by Oracle’s development organization, allowing them to extend and customize applications to meet their unique needs. This will allow enterprise developers to quickly and quickly build self-enhancing applications that could seamlessly integrate with their existing Oracle applications.

Oracle Strengthens Applications to Drive Growth

Oracle Cloud Applications provides a customer with all the functionality needed to optimize their business, make better decisions faster, and anticipate change. It also provides choice and flexibility in when and how they can deploy Oracle infrastructure applications and technologies.

This is helping Oracle gain traction with users, as Unilever recently integrated a few of its Oracle Fusion applications with the Autonomous Database to create a next-generation super-secure and super-agile platform. Revenue from app subscriptions, which includes support, was $4 billion, up 37% in constant currency in the first quarter of fiscal 2023.

The E-Business Suite, which is an integrated set of business applications from Oracle, became the company’s main product line. Oracle E-Business Suite 12.2 adds new features to users as it now provides continuous applications and updates to the underlying technology stack without requiring a major upgrade and also provides long-term support with Premier Support committed until at least 2033.

Oracle is making enhancements to ensure that Oracle E-Business Suite can take full advantage of Oracle Cloud Infrastructure and can effectively coexist with complementary Oracle SaaS applications.

Oracle also unveiled a host of updates for its Oracle Fusion suite of enterprise applications. It added 15 basic AI models to Oracle Unity, a customer data platform within Oracle Fusion Cloud Customer Experience.

New AI models can predict behaviors and offer recommendations to users in consumer packaged goods, communications, financial services, healthcare, utilities and other industries.

Oracle Corporation Pricing and Consensus

Oracle Corporation Price Consensus Chart | Quote from Oracle Corporation

Along with developing its business applications, Oracle also recently announced a beta release of the latest version of Oracle’s Converged Database. Oracle Database 23c Beta has new features that aim to make SQL easier to use and adds JavaScript as a stored procedure language.

Oracle’s cloud business hinders growth

Oracle expects second-quarter fiscal 2023 revenue to grow 21% to 23% in constant currency. Oracle shares are down 24% year-to-date against the Zacks IT and technology sectorwhich decreased by 35.6%.

Oracle is struggling to find stability in the cloud computing space as there has been a late entry. The company faces stiff competition from Microsoft MSFT, Amazon AMZN and Alphabet GOOGL, which have high brand value in cloud services.

Microsoft’s Azure is preparing to open five data centers in the APAC region. In the fourth fiscal quarter of 2022, cloud services revenue jumped 40% year-over-year, driven by robust growth in consumption-based businesses.

Amazon continues to dominate the global cloud computing space with a growing number of availability zones and regions served by Amazon Web Services, as it recently opened one in Bangkok, Thailand.

Alphabet’s Google Cloud services have increased investment in infrastructure, security, data management, analytics and AI, and are expanding their footprint around the world as the company is poised to open a data center in Japan in 2023, marking its third such facility in Asia.

To make a name space in cloud computing and catch up with competitors, Oracle, which currently has a Zacks Rank #5 (Strong Sell), has made significant investments in acquisitions. However, as the SaaS market becomes overcrowded, these acquisitions may not perform in line with company expectations, further hurting profitability.

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