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《大行》瑞銀:甲骨文(ORCL.US)簽訂大型雲服務合約 升目標價至280美元
瑞銀發表研究報告指,甲骨文(ORCL.US)上月底公布已簽署多份大型雲服務合約,其中一份預計自2028財年起每年貢獻300億美元收入,推動其股價飆升15%,預料大型雲服務合約對甲骨文以至微軟(MSFT.US)、OpenAI都有深遠影響。 瑞銀預期,合作可能涉及OpenAI的推理及訓練服務,若該客戶確認為OpenAI,估計對微軟屬不利,惟合作預料取決於Abilene數據中心及Stargate GPU集群的投產進度,因此存在延遲風險。瑞銀調整甲骨文預測,將2029財年收入由1,090億美元上調至1,340億美元,營運利潤率由41%下調至38%,相較目前指引分別為1,040億美元及45%;資本支出預估由350億美元增至540億美元,並將2027年每股盈利預測上調2%。瑞銀將甲骨文的目標價從250美元上調至280美元,評級「買入」。
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