Analyst maintained Buy rating, lowered price target for Alibaba. Q4 revenue missed estimates due to divestitures, but strong growth in core commerce and Cloud.
A wave of caution swept across Asian trading floors for the second consecutive day on Friday, as investors, finding few fresh catalysts, opted for a more circumspect stance.
'The Big Short' famed investor Michael Burry, who accurately predicted the 2008 housing market crash, has turned bearish on most equities while doubling his stake in cosmetics giant Estée Lauder Companies Inc. during the first quarter, according to 13F regulatory filings with the Securities and Exchange Commission on Thursday.
Nvidia plans to open a new R&D center in Shanghai to stay competitive in China's AI market while navigating strict U.S. export controls that threaten its chip sales.
Senator Chuck Schumer warned that Trump-backed AI chip deals with Saudi Arabia and the UAE could risk U.S. tech secrets falling into China's hands, undermining national security and export restrictions.
NIO stock fell Thursday, tracking broader US-listed Chinese stock weakness after Alibaba's results. Alibaba's revenue miss hurt sentiment for Chinese growth stocks like NIO shares broadly.
Alibaba reported Q4 results with revenue of $32.58B, up 7% YoY but missing estimates. Adjusted earnings per ADS were $1.73, beating consensus of $1.48.
The Chinese e-commerce giant reported quarterly revenue of $32.81 billion, marking an increase of 7% year-on-year but below an analyst estimate of $33.3 billion.
