NYSEARCA:ASIA - NYSE Arca - US5771305787 - ETF - Currency: USD
Bank of America raises Alibaba's outlook, predicts 6% revenue spike due to Taobao overhaul and expected growth in Chinese market. Target price $106.
Alibaba expands global cloud computing availability, leveraging AI products for growth. Plans to build data centers in key markets. Stock down 0.5%.
In 1999, Benson Tam decided to help out his buddy Joe Tsai and orchestrated a $500,000 investment for his then-untested startup. That company turned out to be Alibaba Group Holding Ltd., which revolutionized online shopping in China and debuted 15 years later with the world’s largest initial public offering, yielding a 200-fold return for Tam and his partners.
Mentions: BABA