TMTB: ORCL recap; CVNA ug at Jefferies; 3p Roundup (AWS, GOOGL, RBLX); COIN ug at Rayjay; AAPL +ve; Tiktok bill house tomorrow; HPE AI order

Good morning - QQQs are up 45bps ahead of CPI at 8:30am. BTC is (wait…double checks), yes red and dn 40bps. China is up 2.5%. Slow news/research day today (seems like everyone is exhausted post-earnings)- we’ll recap ORCL then get into today…

ORCL: Bullish commentary and solid KPIs: OCI/RPO/Capex growth

Just looking at headline numbers ORCL’s Q3 looked ok and Q4 looked a bit squishy. However, digging under the surface the story is more interesting as mgmt sounded v good on demand and : 1) OCI accelerated at 53% y/y growth ahead of whispers of 47-49% 2) Capex is finally inflecting and initial FY25 capex guide of $10B suggests greater capacity ahead 3) RPo growth of +29% y/y ex cerner with 43% expected to be recognized over the next 12 months 4) mgmt expects growth acceleration in FY25 and said FY26 guide outlook could be conservative 5) mgmt noted a very high rate of growth in GPUs for next q and for next year 6) ORCL teased an announcement with NVDA in the next week

Bulls will say thi…