News Snapshot:
FeelPic We continue to be buy-rated on Alibaba (NYSE:BABA). We think the September quarter results and the earnings call confirm slower Y/Y revenue growth this quarter in all main segments, including Taobao and Tmall Group, Local Services Group, Cainiao Smart Logistics Network Limited, Cloud Intelligence Group, and Digital Media and Entertainment Group. The stock slid over 8% pre-market today, not due to the slower Y/Y revenue growth, with total sales growing 9% Y/Y down from double-digit growth of 14% Y/Y growth last quarter, but due to the cancelation of the company’s Cloud spin-off due to headwinds from the Biden Administration...
