Michelle:
While I value your input since you speak from personal industry knowledge, I can't help but agree somewhat with sum of the bullish comments on this board stemming from yesterday's release of 1Q earnings.
Granted application revenues must grow at a greater rate; granted license growth is less than what the market would like to see, but keep in mind how much this stock has been beaten down & the transition the company is currently going thru on a number of fronts.
IMHO, today's market reaction is "a correction" of ORCL's overall health, primarily w/respect to its core database business. Its just not as bad or flat as some of the market "pundits" thought it was last year. If a prior post is correct, even Goldman has corrected its overall view of ORCL.
As far as applications go, change will not happen overnight. I really don't think the market was really expecting much in the way of application growth for this Q. Hell, look at the recent price performance of other ERP stocks: SAP, PSFT, MANU, ITWO.
As far a license growth is concerned, I think growth will be renewed as ORCL 8 & ORCL 8i begin to take hold. Again, I don't think the market was really expecting that much this Q. |
