A short while ago, Brian White of Drexel Hamilton reiterated a Buy rating on Oracle shares, and a $62 price target, in a note to clients, writing that the story "sounds like fake news to us."
"We believe these reports are inaccurate," writes White, "and we would be buyers of Oracle on any weakness this afternoon."
"There have been similar stories about Salesforce in the past and they turned out to be false," he observes.
For one thing, White cites remarks by Ellison on December 17th to the effect that "that neither Amazon or Salesforce were 'moving off' from Oracle, which we believe to be true."
White also cites the company's pledge, during its "Open World" customer event in October, that "a user's Amazon Redshift bill would be cut in half by using Oracle."
And then White goes through several of the promised technical advantages of the newer version, "Oracle 18c," and how it will be "not only much cheaper to use than Amazon but also much faster and more automated."