Alibaba (NYSE: BABA) recently surprised investors with a better-than-expected Fiscal Q1 performance. However, the quarterly beat failed to lift the stock for more than one trading session. Slowing macro activities, a slowdown in its Cloud business, and increased competitive activity limit the upside in Alibaba stock.  Citing the softness in consumption, Deutsche Bank analyst Leo Chiang lowered his revenue forecast by 1% for Fiscal Years 2023 and 2024. Chiang stated, “We anticipate geopolitical tensions, currency depreciation in Euro markets, and a slowdown in Southeast Asian markets to collectively weigh on the outlook for international commerce in the Sep Q.
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Alibaba (NYSE:BABA)
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