172.31 -0.78 (-0.45%)
Pre-Market: 4:42AM EDT
|Bid||171.80 x 300|
|Ask||173.00 x 500|
|Day's Range||170.68 - 178.00|
|52 Week Range||114.00 - 206.20|
|PE Ratio (TTM)||42.32|
|Earnings Date||May 4, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||217.63|
Yahoo Finance's Alexis Christoforous and Jared Blikre break down the latest market action.
Investors may have cooled on Alibaba Group Holding Ltd. as its profit margins narrow, but one of its early backers says the e-commerce giant is far from its peak. John Ho, founder and chief investment officer of Janchor Partners Ltd., a $4 billion fund whose 2012 stake in Alibaba has grown several times in value, said the Hangzhou-based behemoth will likely become a trillion dollar company in less than a decade. Alibaba has access to user data collected across its platforms that span shopping, food delivery, bike rentals and videos -- all linked by its mobile payments provider Alipay.
While Alibaba, Weibo and Baozun search for support, fellow Chinese internet stock 58.com is trying to complete a new base and establish a potential buy zone.
This time last year -- heading into March quarter earnings season -- Baidu Inc. was the dunce of the China internet party and its three closest competitors were clear winners. Shares of Alibaba Group Holding Ltd. and Tencent Holdings Ltd. were both up more than 25 percent for the year to date and JD.com Inc. was the belle of the ball with a gain of almost 34 percent.Baidu was the token guest with an advance of just 7 percent. Baidu’s turnaround story continues, but investors are yet to be convinced.
Today, we know the two companies as major players in the retail and cloud-computing spaces, but they actually started in very different places, growing more alike over the years, says Mike Lippert, portfolio manager at Baron Capital. Amazon began as a more-traditional retailer, owning inventory and distribution, while Alibaba was relatively asset-light, operating akin to a marketplace such as eBay (EBAY). Now, Amazon and Alibaba have seen their businesses evolve into forms much closer to each other, says Lippert.
The Google parent delivered better-than-expected earnings as well as revenues. The stock jumped more than 2% in extended trading, though it closed down 0.51% at $1,067.45 yesterday. The better-than-expected results came as the company focuses on growing its business and consistently delivering higher revenues, backed by strong growth in advertising sales on Google search and YouTube.
The analysts’ consensus for Apple on my Bloomberg shows 29 buys, 16 holds, no sells. General Electric, decades ago the biggest market capitalization in the S&P 500 just ran out of accounting mufti pufti and fights to stay above a single digit cast off. If Apple has run out of gas and Facebook needs shaking up, who is to say how technology is valued by the Street?
China has the world’s second-largest stock market, but very few of its biggest technology companies can be traded domestically. For years, China has watched as companies including e-retailing giant Alibaba Group Holding Ltd. and search engine Baidu Inc. headed overseas to go public, enriching investors from New York to Hong Kong. The CDRs would also waive corporate governance rules that have helped keep the likes of Alibaba away from their home market, a recognition of how important it’s become to win over the new titans of tech.
This could sway GOOGL bulls to commit upward. The upside of this is that during a time when all experts are concerned about privacy issues, there was hardly any mention of carry-through from the Facebook, Inc. (NASDAQ:FB) debacle. Fundamentally, GOOGL stock is not bloated.
Top Chinese tech firms and some government departments have been singled out in a report that says discriminatory hiring practices based on gender are widespread in China and are linked to a shrinking proportion of women in the labour force. Job ads posted by Alibaba Group Holding Ltd (BABA.N), Baidu Inc (BIDU.O) and Tencent Holdings Ltd were among those that deterred female applicants or objectified women, said Human Rights Watch in a report released on Monday.
Top Chinese tech firms and some government departments have been singled out in a report that says discriminatory hiring practices based on gender are widespread in China and are linked to a shrinking proportion of women in the labor force. Job ads posted by Alibaba Group Holding Ltd, Baidu Inc and Tencent Holdings Ltd were among those that deterred female applicants or objectified women, said Human Rights Watch in a report released on Monday.
Alibaba is "fighting actively against fakes," which is something "Amazon is not doing," says Swatch Group CEO Nick Hayek.