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To: Mark Finger who wrote (9157)	2/9/1998 1:23:00 PM
From: Marq Spencer	Read Replies (2) \| Respond to of 14631

Mark, Today's write-up on Oracle by Morgan Stanley is an interesting read. Some salient points: * Services is driving this company. * Stock will remain volatile in the $24-$32 range. * Price target of $34, "but we don't expect to see it anytime soon." * Don't bank on 25% database growth, since the number that Larry threw out was for US only (which is 40% of Oracle's db rev). Expecting single digit worldwide DB growth. US number was around 20% last quarter when the company missed the top-line. There are a couple of sections on how Oracle is doing in the Telecom market, and the whole issue of saturation of the DBMS market. In all, an interesting piece, which is neither very positive about the DBMS market, nor Oracle, nevertheless upgrades Oracle to outperform (from neutral). - Brian

To: Mark Finger who wrote (9157)	2/9/1998 11:43:00 PM
From: paul	Respond to of 14631

yes, I know but the point is that Oracle grew, yes grew by 23% - compare that to Informix or Sybase on shrinking revenues and losses - There is a real cyclical slowdown in database licensing due to the fact that db for the low to mid end is a commodity, overagressive licesning from the big 3 and lack of significanlty new products. When this cycle passes Oracle will be in good shape and i suspect so will Informix though its a different story. youll see the apps licenses swing pretty wildly - Oracle reported almost 100% growth in apps licensing a year ago. Oracle needs to manage their sales cycle better but i dont think its a sign that there apps business is collapsing.