Oracle (NYSE:ORCL | ORCL Price Prediction) just reported its biggest quarter ever. Q4 FY2026 revenue hit $19.18B, cloud infrastructure ran +93% YoY, and remaining performance obligations exploded to $638 billion.

Yet shares sit at $184.29, down 4.87% YTD and 11.73% over the past year. The market is wrestling with what Oracle has become: a capital-intensive AI infrastructure provider. Can shares reach $800 by 2030? Here is the math.

What’s Holding Oracle Back Right Now

The post-earnings selloff was about capex. Management guided FY27 net cash capex to $70 billion, with reported capex including $20 billion to $25 billion in prepayments. FY26 free cash flow swung to -$23.69B on $55.66B of…