What’s Restricting Alibaba Stock’s Upside Potential?
August 18 2022 - 11:42AM
TipRanks
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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