Oracle Corporation, an American multinational computer technology company that offers a comprehensive and fully integrated stack of cloud applications and platforms, which had a slow start this week, has had its best day in almost a year. It saw a rise in its share value and stake prices. The firm share rose to nearly ORCL, +2.57% beating its rivals like Microsoft Corp. Its share surged humungous, leaving the competitors behind.
The recent market trend has suggested that Oracle could be the next longstanding technology-based company to transform its database and move forward like Adobe, Autodesk, and Microsoft, which changed up their business models to embrace the cloud-based services over traditional licensed software, which resulted in the rise in the value of their stock.
Oracle has developed new cloud infrastructure business from companies that have seen greater demand during the pandemic, including video-calling software maker Zoom. The firm is now aiming to become a leader in that market in the same way it dominates in databases. With this rise in its stock value, the firm will improve its database and cloud infrastructure. It will also try to adopt new smart technologies to become a global leader in cloud-based technology.