From Nasdaq: 2024-06-13 09:01:00

Amdocs partnered with Oracle in 2023 to transition communication and media clients to Oracle Cloud Infrastructure. AT&T Mexico recently migrated Amdocs Customer Experience Suite systems to OCI, a move that will enhance scalability and speed for AT&T, a significant customer accounting for a substantial portion of Amdocs’ revenues.

The migration was facilitated by Astadia, acquired by Amdocs in November 2023 for their cloud migration expertise. The migration deal with AT&T’s subsidiary will last five years, with potential for extension, solidifying Amdocs’ position as a key player in the cloud services market.

Amdocs has been focusing on expanding its cloud capabilities through strategic partnerships with industry leaders like Google Cloud and Amazon Web Services. The collaboration with Google Cloud aims to enhance Amdocs’ Embedded Subscriber Identity Modules, while Amazon Web Services is utilized for improving Generative AI services through amAIz AI.

With a projected 15% CAGR in the cloud computing market from 2023 to 2028, Amdocs’ partnerships are poised to boost its cloud capabilities. The migration of AT&T’s CES assets to Oracle’s OCI further solidifies Amdocs’ revenues, ensuring stability and growth in the company’s cloud customer base.

DOX’s stock has faced a 13.1% decline year-to-date due to macroeconomic challenges like high interest rates and inflation impacting IT spending. With a Zacks Rank #4 (Sell), investors are advised to wait for a more favorable entry point, considering the current market conditions and challenges faced by Amdocs.

For investors seeking timely opportunities, Zacks recommends considering shifts in the market surrounding the 2024 Presidential Election. The report identifies five stocks poised to benefit from election year dynamics, including companies in pharmaceuticals, energy, aerospace, defense, and technology sectors.



Read more at Nasdaq: Amdocs (DOX) & Oracle’s Partnership Secure Major Deal From AT&T