8 Good Stocks To Buy Right Now

4. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders: 93

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

Its cloud applications cover financial management, project management, risk management, supply chain planning, and inventory management. Its cloud infrastructure segment, on the other hand, provides services in analytics, AI, machine learning, big data, compute, and DevOps, among others.

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. Oracle Corporation (NYSE:ORCL) currently boasts 430,000 customers and over 300,000 cloud community members.

On September 13, Alex Zukin, Wolfe Research managing director and head of software research, joined Yahoo Finance where he shared his view on ORCL and why he thinks the stock is at an advantage. He suggests that the stock has expertise in enterprise-class infrastructure and also has mission-critical skills on the software front. Zukin suggests that ORCL has a strong ecosystem that will result in growth and profitability.

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. According to our Insider Monkey database, 93 hedge funds were bullish on the stock at the close of Q2 2024.