Oracle: enjoy old age - FT.com Listen, Oracle, it's not as if we're not in awe of what you've done. You're a legend. We've all got Oracle stories. Heck, half the guys who run tech companies now grew up watching you whip the competition quarter after quarter. But there comes a time when you just have to accept are not a growth stock any more. Calm down, I hear what you are saying. You are a cloud software company now - you invented the cloud, for goodness sake. Your cloud products are growing at 50 per cent and produce $1bn a year in revenue. Those integrated hardware/software products are growing at 45 per cent. We love that stuff - we really do. But please, be realistic. The cloud is all of 3 per cent of sales. Your hardware business is still shrinking fast, OK? It is time to take a hard look at yourself. Revenue growth has averaged 1 per cent over the past seven quarters. Your forward price/earnings ratio has not broken 13 times in a year and half. You have missed expectations on the top or bottom lines three times in the last year or two. Thursday's miss had your stock down 8 per cent. You're a value stock now, old buddy. Set expectations low and beat them. Moving to the New York Stock Exchange is perfect for you. That's where you legends belong. It's like the Senior Tour. And it's great that you are doubling your dividend - but it will still leave you with a yield of just 1.6 per cent. At your age? With your cash flows? It's time to think about 3 per cent at least. That's a better idea than your big buyback plan. Look at the how much good $100bn of buybacks over 10 years have done Microsoft. You want to trade like a young man again? Those little growth businesses are never going to move your valuation up. That's not how it works - unless you're prepared to resort to surgery. But you're not ready for a break-up. Better to enjoy your old age. You've earned it.