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Oracle (ORCL) Makes History With Two Cloud Regions in Chile
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Oracle (ORCL - Free Report) unveils its second Cloud Region in Chile, marking a significant achievement as the first hyper scaler to possess dual regions in the country.
The introduction of the Oracle Cloud Valparaíso Region, alongside the existing region in Santiago, is poised to assist organizations across diverse sectors in Chile in reinforcing business continuity and meeting data residency and sovereignty mandates.
As a component of Oracle's distributed cloud approach, the recently launched public cloud region represents the 48th global addition to Oracle's portfolio. This region will provide access to more than 100 Oracle Cloud Infrastructure (OCI) services and cloud applications, encompassing offerings such as Oracle Autonomous Database, MySQL HeatWave Database Service, Oracle Container Engine for Kubernetes, Oracle Cloud VMware Solution and AI infrastructure.
The Oracle Cloud Valparaíso Region provides organizations with a diverse array of cloud services, enabling them to modernize their applications, innovate through data and analytics and seamlessly transfer various workloads from their on-premises data centers to OCI.
Cloud computing and the Internet of Things play a crucial role in expediting the digital transformation in Chile, serving as essential allies for companies seeking uninterrupted data mobility and enhanced productivity. IDC reports a projected 53% increase in the budget allocated to cloud migration by Chilean companies in 2023. In the realm of software and software services, IDC anticipates an annual growth rate of 9.4%, culminating in a total value of $1.4 billion by 2023.
In December 2022, the Chilean government disclosed a 64% surge in the budget designated for the State's digitization in 2023. This translates to an investment of nearly $10 million to enhancing the services and operations of government agencies. The comprehensive digital transformation is anticipated to be completed by 2027.
Shares of Oracle, which currently carries a Zacks Rank #3 (Hold), have gained 23.3% year to date compared with the Zacks Computer and Technology sector’s 47.1% rise due to tough competition from Amazon (AMZN - Free Report) , Microsoft (MSFT - Free Report) and Alphabet’s (GOOGL - Free Report) Google in Chile.
Amazon Web Services (AWS) introduced additional AWS Local Zones in Latin America, contributing to economic diversification in the region. AWS aims to support the development of more resilient economies, fostering sustained economic growth. The low-latency capabilities of Local Zones enable new applications, such as near real-time video analysis for surveillance cameras to enhance traffic management, crime prevention or disaster response.
In 2020, Microsoft Corporation announced the establishment of a data center region in Chile as part of its commitment to sustainability goals. This included a pledge to transition to 100 percent renewable energy in Microsoft data centers by 2025. The Chile datacenter region also introduced Azure Availability Zones, thus enhancing the availability of cloud applications and providing added resilience to data center failures.
Google established its presence in Chile a decade ago, inaugurating its initial data center four years later, and declared plans for expansion in 2018. By late 2019, the completion of the Curie submarine cable, spanning 10,000 kilometers and linking Valparaíso with Los Angeles, marked a significant achievement. Google then launched its dedicated Cloud Region in Chile, which was a milestone for the country's digital economy.
Oracle's distributed cloud presents customers with the benefits of cloud computing while providing increased control over operations and data residency. This approach ensures low latency, even for operations spanning multiple clouds.
OCI's distributed cloud lineup supports multi-cloud scenarios, offering options such as Oracle Database@Azure, MySQL HeatWave on AWS and Oracle Interconnect for Microsoft Azure. This enables customers to integrate key capabilities seamlessly across various cloud environments.
This is expected to boost cloud services and license revenues in the current fiscal year.
The Zacks Consensus Estimate for ORCL’s fiscal 2024 cloud services and license revenues is pegged at $44.05 billion, indicating year-over-year growth of 24.78%. The Zacks Consensus Estimate for earnings is pegged at $5.52 per share, indicating year-over-year growth of 7.81%.
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Oracle (ORCL) Makes History With Two Cloud Regions in Chile
Oracle (ORCL - Free Report) unveils its second Cloud Region in Chile, marking a significant achievement as the first hyper scaler to possess dual regions in the country.
The introduction of the Oracle Cloud Valparaíso Region, alongside the existing region in Santiago, is poised to assist organizations across diverse sectors in Chile in reinforcing business continuity and meeting data residency and sovereignty mandates.
As a component of Oracle's distributed cloud approach, the recently launched public cloud region represents the 48th global addition to Oracle's portfolio. This region will provide access to more than 100 Oracle Cloud Infrastructure (OCI) services and cloud applications, encompassing offerings such as Oracle Autonomous Database, MySQL HeatWave Database Service, Oracle Container Engine for Kubernetes, Oracle Cloud VMware Solution and AI infrastructure.
The Oracle Cloud Valparaíso Region provides organizations with a diverse array of cloud services, enabling them to modernize their applications, innovate through data and analytics and seamlessly transfer various workloads from their on-premises data centers to OCI.
Oracle Corporation Price and Consensus
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Oracle Faces Tough Competition in Chile
Cloud computing and the Internet of Things play a crucial role in expediting the digital transformation in Chile, serving as essential allies for companies seeking uninterrupted data mobility and enhanced productivity. IDC reports a projected 53% increase in the budget allocated to cloud migration by Chilean companies in 2023. In the realm of software and software services, IDC anticipates an annual growth rate of 9.4%, culminating in a total value of $1.4 billion by 2023.
In December 2022, the Chilean government disclosed a 64% surge in the budget designated for the State's digitization in 2023. This translates to an investment of nearly $10 million to enhancing the services and operations of government agencies. The comprehensive digital transformation is anticipated to be completed by 2027.
Shares of Oracle, which currently carries a Zacks Rank #3 (Hold), have gained 23.3% year to date compared with the Zacks Computer and Technology sector’s 47.1% rise due to tough competition from Amazon (AMZN - Free Report) , Microsoft (MSFT - Free Report) and Alphabet’s (GOOGL - Free Report) Google in Chile.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Amazon Web Services (AWS) introduced additional AWS Local Zones in Latin America, contributing to economic diversification in the region. AWS aims to support the development of more resilient economies, fostering sustained economic growth. The low-latency capabilities of Local Zones enable new applications, such as near real-time video analysis for surveillance cameras to enhance traffic management, crime prevention or disaster response.
In 2020, Microsoft Corporation announced the establishment of a data center region in Chile as part of its commitment to sustainability goals. This included a pledge to transition to 100 percent renewable energy in Microsoft data centers by 2025. The Chile datacenter region also introduced Azure Availability Zones, thus enhancing the availability of cloud applications and providing added resilience to data center failures.
Google established its presence in Chile a decade ago, inaugurating its initial data center four years later, and declared plans for expansion in 2018. By late 2019, the completion of the Curie submarine cable, spanning 10,000 kilometers and linking Valparaíso with Los Angeles, marked a significant achievement. Google then launched its dedicated Cloud Region in Chile, which was a milestone for the country's digital economy.
Oracle's distributed cloud presents customers with the benefits of cloud computing while providing increased control over operations and data residency. This approach ensures low latency, even for operations spanning multiple clouds.
OCI's distributed cloud lineup supports multi-cloud scenarios, offering options such as Oracle Database@Azure, MySQL HeatWave on AWS and Oracle Interconnect for Microsoft Azure. This enables customers to integrate key capabilities seamlessly across various cloud environments.
This is expected to boost cloud services and license revenues in the current fiscal year.
The Zacks Consensus Estimate for ORCL’s fiscal 2024 cloud services and license revenues is pegged at $44.05 billion, indicating year-over-year growth of 24.78%. The Zacks Consensus Estimate for earnings is pegged at $5.52 per share, indicating year-over-year growth of 7.81%.