Ignore the OpenAI Panic and Keep Buying Oracle Stock, Says Wedbush

The Oracle (ORCL) stock saga recently kicked back into the headlines after a report that OpenAI missed some internal targets sent shockwaves through tech. Shares of chip and AI names like Nvidia (NVDA) and Tesla (TSLA) dipped on the news, and Oracle wasn’t spared from the reaction. ORCL stock fell on fears that its big AI bet might be cooling. 

However, Wedbush analyst Dan Ives called the drop an “overreaction.” Ives argues that demand at OpenAI and other cloud projects remains huge, and he urged investors to treat the selloff as a buying opportunity. In short, Ives believes investors should ignore the panic, as Oracle’s business is still humming along under the hood. Let's take a closer look.