Wall Street Is Bullish on Oracle, But Investors Aren’t Buying It

To Wall Street, Oracle Corp. is a screaming buy. To many investors, however, the company’s relationship with OpenAI, its sizable debt load and the durability of its software business have made owning the stock a risk.

Oracle shares are on a six-session losing streak in which they’ve lost 14%, their worst stretch in months. Despite an April rally, the stock is down more than 50% since hitting a high in September.

The latest move is centered around OpenAI, which is facing questionsabout its ability to meet the hundreds of billions of dollars it’s committed to spend on developing ...