2024-06-07 10:11:47 ET
Summary
- Investors in Alibaba should consider China's political landscape and its relations with the West, especially Xi Jinping's socialist stance and scrutiny of Alibaba after Jack Ma's comments.
- Compared to competitors, Alibaba is financially strong, but its growth rates make it less attractive than Pinduoduo despite similar P/E GAAP ratios.
- Alibaba is 40-65% undervalued based on DCF models, contingent on China and the West cooperating in the global order and China adopting further capitalist elements to boost private sector growth.
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Alibaba: Hold Amid Globalization Uncertainties