Jim Cramer Answers If the Market Has Bottomed and Weighs In On 11 Stocks

10. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders: 105

A caller asked Cramer whether it was still worth holding Oracle Corporation (NYSE:ORCL) due to all the uncertainty around the data center market and the TikTok deal. Cramer reassured them that Oracle remains a solid long-term investment and emphasized the company’s strong positioning. Here’s his reply:

“Okay I want you to buy more, I want you to buy more. I think that they’re doing a lot of great things. I’m not as concerned about what’s going to happen with the data centers. I am not concerned about what’s going to happen with Oracle and they are very much in charge of their own destiny. I think Safra A. Catz is terrific. I would buy the stock.”

In a recent episode from April, Cramer discussed the struggles that enterprise software businesses are facing, using Oracle Corporation (NYSE:ORCL) as an example. He said:

“Oracle and Salesforce peaked back in December; they’re now down almost 30% from their highs. […] The Department of Defence said it would cancel an Oracle contract to modernize the Pentagon’s HR system. There’s some hope that Oracle could recover the contract, but that could be roughly $100 million in annual recurring revenue down the drain. Sure, that’s a rounding error for Oracle, a company that’s expected to bring in more than $57 billion in revenue this year, but it’s a warning sign for the industry.”