Oracle (ORCL) Announces Latest Programming Language, Java 20
Oracle ORCL recently announced the release of Java 20, the latest version of the world’s number-one development platform and programming language.
Java 20, also known as Oracle JDK 20, includes seven JDK Enhancement Proposals. These enhancements include improving the Java language, increasing developer productivity and enhancing the platform’s stability, performance and security.
Oracle will showcase the latest features of Java 20 on Java Developer Day, which will take place at the Oracle DevLive Level Up event in Redwood Shores, CA, from Mar 20-23. The event will also be available online.
Oracle releases new Java features every six months. This fixed schedule provides a steady flow of innovation as well as improvements to the platform that increase security, stability and performance.
Java 20 was developed with the collaborative efforts of Oracle engineers and members of the worldwide Java developer community. Java 20 also supports the Java Management Service, an Oracle Cloud Infrastructure.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
Oracle’s Focus on Innovation to Further Boost Top Line
This Zacks Rank #3 (Hold) company is looking to keep updating new features to stay competitive as well as boost its top line. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Oracle have increased 7.1% in the past year against the Zacks Computer and Technology sector’s decline of 16.6% in the same period.
ORCL reported third-quarter 2023 profit of $1.22 per share, beating the Zacks Consensus Estimate by 1.67%. Revenues increased 18% year over year to $12.39 billion, which missed the Zacks Consensus Estimate by 0.03%.
Oracle, being a consumer-centric company, always keeps updating and adding features to its Cloud, Netsuite, ERP, Java as well as developing new products to compete with its peers.
According to a TechTarget report, Oracle now offers serverless Kubernetes, known as Oracle OKE, to compete with its main competitors Microsoft’s MSFT Azure, Alphabet’s GOOGL Google cloud and Amazon’s AMZN Web Services.
Being a late entrant in this market, Oracle is looking to compete in terms of ease of use with its competitors. Microsoft offers 28 free services with 1 GB storage on up to 10 instances, whereas Google offers 24 free services with nine hours per day of B instances. AWS offers 39 free services compared to Oracle’s 27 services.
Oracle’s OKE is focusing on its ease of use because with already established giants in the market, the scope for a huge market share is low. But with constant innovation based on consumer needs, it can penetrate this market as well. The Zacks Consensus Estimate for revenues for fourth-quarter 2023 is currently pegged at $13.75 billion, indicating growth of 16.09% year-over-year.
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