Oracle will also continue to reinvest some of this money in the future growth of its business and the company has demonstrated an above-average ability to execute successful acquisitions. Though there have been missteps, more often than not the company has maintained discipline and focus in its acquisition strategy. I expect its acquisition strategy to continue to be a net positive for shareholders going forward. Finally, the recent announcements of partnerships with Salesforce.com, Microsoft and NetSuite ( N) provide some hope that outright competition in this space may give way to more co-opetition. I don't think any of these partnerships are true game changers for Oracle, but I do think they signal the initiation of a new phase in the dynamics of this market. So, what is the bottom line? I think current owners of Oracle stock that have endured a rocky first half of the year will do well to stay the course. For those without a position in stock, I think Oracle is particularly interesting at current levels. If the company can steady its business execution, continue its shareholder-friendly cash deployment, and maintain discipline and prudence in its acquisition strategy then I will remain constructive on Oracle stock. If any of these elements dissipate then my interest in owning the stock will quickly fade. --Written by Craig Gentry, chief investment strategist at Destination Wealth Management. The author has no personal ownership or investment banking relationships.