Alibaba ( (BABA) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Alibaba is making significant strides in the tech world with its subsidiary, Ant Group, pioneering mobile payments using smart glasses. This innovative approach was recently demonstrated in Hong Kong through a transaction made with Meizu’s StarV smart glasses, powered by Ant’s AI technologies. The company aims to expand this technology globally, leveraging its Alipay+ network, which connects over 1.7 billion user accounts across 70 markets. The smart glasses market is expected to grow substantially, from $1.93 billion in 2024 to $8.26 billion by 2030, presenting a lucrative opportunity for Alibaba.
Additionally, Alibaba is investing heavily in AI and cloud infrastructure, with a $53 billion plan over the next three years. This investment is already yielding results, as seen in the company’s recent 18% year-over-year cloud revenue growth. Despite potential challenges from U.S.-China trade tensions and regulatory pressures, Alibaba remains an attractive investment. Analysts have given Alibaba a ‘Strong Buy’ rating, with a consensus price target suggesting a 46.73% upside, making it a compelling option for investors looking for growth in the tech sector.