Oracle shares are down 4.45 percent today because analyst firm J.P. Morgan downgraded the stock to $53 from $55. In a note sent to clients today, analyst Mark Murphy mentioned that Oracle’s “specific metrics in our large-scale CIO survey have arced over into negative territory, which makes us uncomfortable because the results of our CIO surveys over the years have been highly predictive, Oracle spending intentions have only looked lukewarm in our CIO survey work in the recent past, but the data takes a dive in the current survey.”
He also revealed that CIOs of organizations are migrating Oracle databases to Microsoft SQL Server and others. His report also revealed that 27 percent of CIOs mentioned Microsoft as their “most integral” vendor for cloud computing. Surprisingly, only 12 percent of the CIOs felt the same for Amazon. This is a good news for Microsoft as it tries to catch up with Amazon in the cloud computing business.