Market Not Giving Alibaba Enough Credit for Long-Term Core Commerce Monetization and Cloud Potential
Management's outlook calling for revenue growth of 60% in fiscal 2019 was the big story coming out of Alibaba's fourth-quarter update, as it came in well ahead of market expectations calling for 40% growth. Coming on top of 58% growth in 2018, we believe 60% growth (50% excluding the consolidation of food delivery platform Ele.me and Cainiao) would offer further validation of the network effect underpinning our wide moat rating and its ability to move into new retail categories (fashion, CPG) an...
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