** Oracle ORCL.K shares are down 1% on Weds ahead of the co's qtrly results after the bell, with focus on demand for its cloud services driven by the AI boom

** The broader market is also lower on Weds, with the S&P 500 .SPX down about 1%

** ORCL expected to report fiscal Q4 rev up 20% at $19.10 bln and adj EPS of $1.96 vs $1.70 yr-ago, per LSEG

** In its last report, the co beat rev estimates on robust demand for its AI-powered cloud offerings

** In late May, U.S. Democratic Senator Ed Markey formally asked TikTok's newly formed U.S. joint venture and Oracle to explain how they are protecting the personal data of American users and preventing foreign entities from influencing which videos American users are shown on the app

** The median 12-mo PT on ORCL is $265; the stock was last at $203.58

** Stock has climbed ~4% YTD, lagging the S&P 500's .SPX 6.5% gain