US Stocks Alert: Alibaba surges on October 9 as price target is raised, southbound funds increase holdings, and AI cloud business grows

Alibaba October 9 Surge Analysis

Keywords: Target price raise, southbound inflows, AI cloud growth

1. On October 9, Jefferies maintained its "Buy" rating for Alibaba, raising the US stock target price from $190 to $192, and the Hong Kong stock target price from HK$184 to HK$186. The institution estimates that in the September quarter, the company's AI cloud and computing power services revenue grew over 50% year-on-year to 60.5 billion yuan, with segment profit margin rising to 12.3% and total revenue increasing 9.6% year-on-year.

2. On October 9, southbound capital recorded a net purchase of approximately HK$611 million in Alibaba-W shares, with total southbound net inflows of about HK$291 million that day. Alibaba was among the top Hong Kong stocks in terms of southbound capital inflows on the day.

3. On October 9, the Hang Seng Tech Index rose 3.06%, with tech stocks leading the Hong Kong stock market rally. Alibaba's main businesses are e-commerce, cloud services, and digital infrastructure. In the June quarter, AI cloud and computing power services revenue grew 133% year-on-year to 5.628 billion yuan, and Alibaba Cloud's external revenue growth accelerated to 45%.

(Disclaimer: This content is summarized from publicly available information by AI technology and is for reference only. It does not constitute investment advice.)