AUSTIN, Texas - Oracle has announced the release of Java 23, the latest iteration of the widely-used programming language and development platform. The update introduces a series of enhancements aimed at boosting developer productivity and driving business growth through improved performance, stability, and security.
Java 23, also known as Oracle JDK 23, incorporates twelve JDK Enhancement Proposals (JEPs) that refine the Java language and extend its capabilities. Notable language features from Project Amber include the introduction of primitive types in patterns, module import declarations, and implicitly declared classes, all in preview mode. These updates are designed to simplify coding, enhance language expressiveness, and facilitate learning for new programmers.
The release also focuses on performance and runtime improvements, with the Z Garbage Collector (ZGC) now operating in generational mode by default, optimizing efficiency and reducing resource demands. Libraries have been expanded with APIs for class-file manipulation, vector computations, stream gatherers, and structured concurrency, all aimed at simplifying development tasks and improving code maintainability.
Tooling improvements in Java 23 feature the ability to write Javadoc comments in Markdown, enabling developers to more easily document their code. Additionally, the update includes a deprecation notice for memory-access methods in sun.misc.Unsafe, signaling a future removal and encouraging developers to adapt their codebases.
Supporting the global Java community, Oracle highlights the integration of Java 23 with Oracle Cloud Infrastructure (OCI), where it delivers increased performance and cost-efficiency. The Oracle Java SE Universal Subscription provides comprehensive support and includes access to Oracle GraalVM and the Java SE Subscription Enterprise Performance Pack.
JavaOne, the premier event for the Java community, is set to return in 2025, providing a platform for developers to engage with the latest Java advancements.
This release is a collaborative effort between Oracle and the Java developer community through OpenJDK and the Java Community Process (JCP). It reflects Oracle's commitment to continuous innovation in the Java ecosystem.
The information in this article is based on a press release statement from Oracle.
In other recent news, Oracle Corporation (NYSE:ORCL) has become a focal point for investors following a series of financial forecasts and analyst ratings. HSBC updated its outlook on Oracle, raising the stock's price target from $180.00 to $210.00 and maintaining a Buy rating. The firm's analyst cited expectations of revenue growth, projecting it to surpass $66 billion in fiscal year 2026 and $104 billion by fiscal year 2029, up from $52.9 billion reported for fiscal year 2024.
Oracle's entry into the cloud infrastructure market and the development of a second-generation cloud has been a significant factor in these projections. This advancement has allowed the company to offer a high-performance, scalable, and efficient cloud solution. The demand for Oracle's cloud infrastructure services is expected to grow substantially, according to HSBC's analysis.
Oracle's strategic developments in cloud services and database management are poised to enhance its market position and drive revenue growth over the coming years. The firm's reassessment came after participating in Oracle's CloudWorld conference and Analyst Day, where Oracle outlined its ambitious revenue targets, including a new forecast for fiscal year 2029 of $104 billion.
BMO Capital maintained its "Market Perform" rating for Oracle, with a steadfast price target of $173.00, based on Oracle's new financial targets for fiscal year 2029. Simultaneously, Piper Sandler increased its price target for Oracle to $185.00, citing substantial revenue growth, particularly in the cloud and artificial intelligence sectors. However, Citi maintained a neutral stance, citing uncertainties in the rapidly evolving technology landscape.
InvestingPro Insights
Oracle's latest release of Java 23 underscores its position as a prominent player in the Software industry, a status mirrored by its substantial market capitalization of $467.79 billion. The company's dedication to innovation and developer support is evident not only in the software updates but also in its financial commitment to shareholders, having raised its dividend for 11 consecutive years, a testament to its financial stability and confidence in future growth.
InvestingPro Tips for Oracle reveal that the company has maintained dividend payments for 16 consecutive years, highlighting its reliability for income-focused investors. Additionally, Oracle's stock is currently trading near its 52-week high, which may suggest market optimism surrounding the company's performance and strategic initiatives, including the Java 23 release.
From a financial standpoint, Oracle's revenue growth over the last twelve months has been 5.6%, with a notable quarterly growth rate of 6.86%. This steady increase reflects the company's ability to expand and generate income, which is crucial for sustaining its innovation-driven business model. The gross profit margin of 71.31% further underscores Oracle's efficiency in managing its cost of goods sold, contributing to a robust operating income margin of 30.45%.
For readers interested in a deeper dive into Oracle's financial health and stock performance, there are additional InvestingPro Tips available at https://www.investing.com/pro/ORCL, offering comprehensive insights into the company's valuation metrics and projections.
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