Prediction: Oracle's $638 Billion Cloud Infrastructure Backlog Could Make It One of the Best-Performing AI Stocks Through 2028

Oracle's stock has underperformed over the past year due to heavy AI data center investments, but its $638 billion remaining performance obligation (RPO) backlog positions it for strong growth through 2028. The company expects to recognize $77 billion in revenue from RPO in fiscal 2027, accelerating to $108 billion annually by fiscal 2028-2029. With earnings growth projected to jump from 5% in fiscal 2027 to 43% in fiscal 2029, analysts suggest Oracle stock could reach $396 (2.5x current price) if it trades at market multiples.