https://seekingalpha.com/article/4168895-oracles-cloud-transition-match-success-stories
There are 4 pages to look through. Great graph on page 2 of Oracle's decline.
Here are some quotes:
Oracle (NYSE:ORCL) is still in the midst of its seemingly never-ending transition to the cloud. While management has repeatedly promised that success is right around the corner, we’re not so sure.
After the graph on page 2:
With both Adobe and AutoDesk, we see the same pattern. High initial quarterly growth rates, which indicate positive initial reaction to the business model switch. As more and more customers are switched to the new model, growth rates inevitably slow down.
With Oracle, we see something a bit more puzzling. Growth is initially slow but begins to increase. But over the last few quarters, growth rates have begun to decelerate. Without any big initial jump in customer switching, the slowing growth rates are troubling. There’s also another issue.
Oracle, the least successful of them, has spent over $29 billion, or more than 13% of its revenue, over the past five years on acquisitions. This really should not be much of a surprise, as Oracle has long made public that substantial acquisitions are part of its business model. However, the company’s cloud growth rates have been slower even with the benefit of substantially larger acquisitions.
Summary - At this point, we see no reason to own ORCL stock.