至于那个可能让你震惊的股票，甲骨文（ORCL）。这是目前市场上最大的谜团。该股已从高点暴跌约57%，今年下跌约24%，过去12个月下跌38%。然而，其背后的业务正以老派、乏味的甲骨文无法想象的速度增长。这种矛盾就是整个故事。
For the one that might blow your mind, Oracle, ORCL. This is the single biggest puzzle on the market right now. The stock has crashed roughly 57% from its highs, down about 24% just this year, down 38% over the last 12 months. And yet, the business underneath it is growing at a pace that the old, boring Oracle could never have imagined. That contradiction is the entire story.
看涨的理由令人震惊。甲骨文悄然成为AI领域最大的赢家之一。其云基础设施业务在一个季度内增长了93%。其多云数据库业务增长了超过400%。去年总收入达到670亿，管理层预计明年将达到约900亿。对于这样规模的公司来说，这是34%的增长。
The bull case is staggering. Oracle quietly became one of the biggest winners in AI. Its cloud infrastructure business grew 93% in a single quarter. Its multi-cloud database business grew over 400%. Total revenue hit 67 billion last year, and management is guiding to roughly 90 billion next year alone. That is 34% growth for a company this size.