10 Best Stocks to Buy and Hold For The Next Decade

7. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders: 93

Oracle Corporation (NYSE:ORCL) is one of the best stocks to buy and hold for the next decade. The technology company is based in Austin, Texas, and specializes in providing businesses with a complete suite of cloud applications.

Its cloud applications provide coverage for financial management, project management, risk management, supply chain planning, and inventory management. Its cloud infrastructure segment provides services in analytics, AI, machine learning, big data, compute, and DevOps, among others. Oracle Corporation (NYSE:ORCL) also produces hardware products such as scalable engineered systems, servers, and storage products.

For the fiscal year ended 2024, the company logged $53 billion in revenue. Oracle Corporation (NYSE:ORCL) has spent more than $80 billion on research and development since FY 2012 and over $110 billion on 150-plus acquisitions so far. As of today, the company has more than 160,000 employees, 29,000 consulting experts, and 18,000 customer support and service specialists who speak in over 20 languages.

Oracle Corporation (NYSE:ORCL) currently boasts an army of 430,000 customers and over 300,000 cloud community members. Some of its high-profile companies include PeopleSoft, Siebel, BEA, Sun Microsystems, Netsuite, and Cerner. In September, the company announced a strategic partnership with Amazon Web Services to help customers run workloads on both AWS and Oracle Cloud Infrastructure. During the same month, the company also announced the availability of Oracle Database on Google Cloud.

Overall, Oracle has massive growth potential and is on track to leverage AI to its benefit over the next few years. Just last week, Oracle Corporation (NYSE:ORCL) announced its plan to invest over $6.5 billion in AI and cloud computing in Malaysia, a testament to its expansive strategy. According to our Insider Monkey database, 93 hedge funds were bullish on the stock at the close of Q2 2024.