Oracle (ORCL) Announces Latest Programming Language Java 22

Oracle ORCL recently announced the release of Java 22, the newest version of the widely used programming language. This update brings a slew of improvements focused on making developers’ lives easier and their code more efficient.

Java 22, also known as Oracle JDK 22, packs in several enhancements across different aspects of the language and its development kit. These improvements touch upon the Java language itself, its APIs, performance and the tools bundled within the Java Development Kit (JDK).

Among the highlights of JDK 22 are enhancements from various projects within the OpenJDK community. These include language improvements from Project Amber, which introduce handy features like string templates and implicitly declared classes. Project Panama contributes enhancements such as Foreign Function & Memory API and Vector API. Meanwhile, Project Loom brings Structured Concurrency and Scoped Values ​​to the table, enhancing concurrency management within Java applications.

Furthermore, JDK 22 introduces improvements to core libraries and tools, including the Class-File API and the ability to launch multi-file source-code programs. Performance updates like Region Pinning for G1 aim to make Java applications run more smoothly and efficiently.

These features are expected to aid cloud services and license revenues.

The Zacks Consensus Estimate for ORCL’s fiscal 2024 cloud services and license revenues is pegged at $44.68 billion, indicating growth of 26.5% from the year-ago levels. The Zacks Consensus Estimate for fiscal 2024 earnings is pegged at $5.58 per share, indicating growth of 8.98% from the prior-year actuals.

Oracle Corporation Prices and Consensus

Oracle Corporation Prices and ConsensusOracle Corporation Prices and Consensus

Oracle Corporation Prices and Consensus

Oracle Corporation price-consensus-chart | Oracle Corporation Quotes

Java Faces Tough Competition in the Programming Language Market

The programming language market is ever changing, with new languages ​​appearing, some fading away and others gaining popularity as needs evolve. According to an Orient report, the top programming languages ​​include Python, Java, JavaScript and C/C++. Other programming languages ​​from top companies are expected to give a tough competition to Oracle.

C# is a programming language developed by Microsoft MSFT in 2000. It’s versatile, object-oriented and component-oriented, allowing developers to build robust and efficient applications. C# holds the fifth position on the PYPL chart, boasting a market share of 6.73%. Like other languages ​​in the C family, such as C++ and Java, C# is user-friendly and type-safe, meaning it helps catch errors during compilation rather than during runtime.

Swift, introduced by Apple AAPL in 2014, is a relatively recent programming language known for its speed, safety and user-friendliness. Compared with Objective-C, Swift demands less coding expertise and boasts easier readability and writing. As a result, it has emerged as the preferred choice for building iOS and macOS applications, swiftly gaining popularity. Currently, Swift holds the ninth spot on the PYPL chart, capturing a market share of 2.75%.

Go, also referred to as Golang, was created by AlphabetGoogle’s GOOGL in 2009 as a statically typed, compiled programming language tailored for developing extensive and intricate software systems. It currently holds the twelfth position on the PYPL chart, with a market share of 2.04%. Moreover, being cross-platform, Golang facilitates the development of applications for various operating systems.

Oracle, being a consumer-centric company, always keeps updating and adding features to its Cloud, Netsuite, ERP, Java as well as developing new products to compete with its peers.
Java, a versatile, platform-independent and object-oriented language, empowering developers to craft robust and high-performing applications, attracts a lot of top companies.

Shares of this Zacks Rank #3 (Hold) company have gained 22.5% year to date compared with the Zacks Computer and Technology sector’s growth of 9.9% due to constant innovation which helps it stay ahead of competition. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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