Oracle just had its best day in the stock market since 1992

The last time Oracle had a day in the stock market better than this, Whitney Houston’s “I Will Always Love You” was early in its 14-week run atop the Billboard Hot 100 chart.

It was nearly Christmas in 1992 when shares ran up 44%. Today, Oracle shareholders got a nice gift, too — the stock rose 36% after the company posted mind-boggling backlog numbers that more than tripled from the previous quarter and said it expected to 14x its “Cloud Infrastructure” revenue by fiscal 2030. The news also created a halo effect, sending investors scrambling to buy a wide swath of AI-adjacent companies. 

That marked Oracle’s third-best trading day ever, which is saying something for a company that has been publicly traded since 1986. It added $243 billion in market cap, more than an entire Goldman Sachs’ worth of market value, in one day. (Goldman’s market cap is $231 billion.) Even before today’s move, Oracle had been on a tear, with the stock up 45% year to date. 

Micron is due to report earnings after the close of trading on Wednesday, with the company catching a couple price target hikes this week, including one from Wedbush on Friday.

Sandisk is something of a different story, as its enormous gains over the last 12 months — roughly 1,200% — have made it a momentum play beloved by the retail crowd.

It was up about 20% this week at around 11 a.m. ET. And its nearly 170% gain this year keeps the stock on top of the S&P 500, in terms of price performance.