Oracle investors haven’t had a week this good since April 2001, after the stock had collapsed in the dot-com crash.

Oracle shares soared Thursday after the enterprise software giant’s quarterly results and sales outlook sailed past Wall Street expectations. Monitor these important chart levels.

Oracle Corp has projected cloud infrastructure sales will jump more than 70% in the fiscal year that began this month, boosting shares in late trading on investor enthusiasm for the closely watched business.

Oracle shares soared 15% on Thursday and headed for a record close and their best day since 2021, after the database software vendor issued robust earnings and a strong forecast, fueled by growth in cloud.

U.S. equities were mixed and little changed at midday as a second inflation report this week came in lower than anticipated.

Oracle knew that a massive wave of orders was coming, but they refused to build out infrastructure until contracts were signed. They faced an impossible choice: Insufficient capacity or excess capacity.

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