Jack Ma is praising Alibaba. Wall Street is more cautious

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Jack Ma is praising Alibaba. Wall Street is more cautious

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e-commerce business in December. Daniel Zhang, the former CEO of the company, abruptly left instead of staying on to lead cloud as originally planned. “Near term, BABA’s financial metrics should remain weak over the next few quarters, given its sustained user investment in

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and [Alibaba International Digital Commerce] investment,” UBS analyst Kenneth Fong and a team said in a report on April 9. “More meaningful upside is likely to be in 2H if macro recovery builds momentum and with more concrete financial results demonstrated from the new business strategy,” UBS said. They cut their price target by $1 to $105 a share and maintained their buy rating. Competition ******** fierce across Alibaba’s major business lines. PDD Holdings’ Pinduoduo app and ByteDance’s Douyin, the local version of TikTok, have emerged as two major competitors to Alibaba in e-commerce. The company had spearheaded the industry’s rapid growth in China with its

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platforms. In the relatively new realm of generative artificial intelligence, ByteDance Doubao chatbot is more popular than Alibaba’s, according to Nomura, citing Questmobile data. Doubao had around 3.7 million users as of the end of March, more than twice that of Alibaba’s Tongyi Qianwen AI chatbot, the data showed.

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’s Ernie **** was in second place, with around 2.5 million daily active users. By average daily time spent, Doubao ******** first at 8.4 minutes, but Alibaba’s Tongyi Qianwen is second at 7.7 minutes as of the end of March, according to the data. Alibaba is also integrating AI tools and models with its e-commerce and cloud businesses. However, in Tsai’s interview with Norges Bank Investment Management, the Alibaba executive said he estimated that China was about two years behind the U.S. in terms of AI development. AI monetization also got little to no mention in six analyst reports published last week on Alibaba. “We maintain our ************* view towards BABA as business transformation is likely to take time,” Morgan Stanley equity analyst Gary Yu and a team said in a note on April 10. They have a price target of $85, and, in contrast to the many buy ratings, rate the stock equal weight. — CNBC’s Michael Bloom and Arjun Kharpal contributed to this report.

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