188.60 -2.18 (-1.14%)
Pre-market: 7:52AM EDT
|Bid||188.65 x 900|
|Ask||188.80 x 1000|
|Day's range||189.91 - 193.23|
|52-week range||147.50 - 211.70|
|PE ratio (TTM)||51.22|
|Earnings date||15 Aug 2018 - 20 Aug 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||251.70|
Tech stocks like Amazon and Netflix are overvalued, and we’re in the 1999 phase of the 2000 Dotcom bubble, said value investor Portfolio Wealth Advisors president and CIO Lee Munson.
When Gary Greenberg graduated from business school in 1985, he had idealistic views about how investors could help open doors for progress in developing markets and beyond. “The only issue was finding anyone who would actually pay me to do that,” says Greenberg, who is 65. It would take 25 years, but in 2010 Greenberg finally landed his dream job at Hermes Investment Management in London.
In the previous part of this series, we saw that fund managers have turned more positive on equities in the United States. According to a BAML (Bank of America Merrill Lynch) survey in July, FAANG plus BAT was identified as the most crowded trade for the sixth consecutive month, cited by 53% of respondents. BAML also said that this was the most crowded trade since the long US dollar in 2015.
IBM’s (IBM) ranking among cloud vendors is sliding, and it turns out Alibaba (BABA) and Alphabet’s (GOOGL) Google may have played a role in its repositioning. In its new report on cloud vendors, Synergy Research indicates that Alibaba has ousted IBM to become the world’s fourth-largest cloud company by market share.
The Zacks Analyst Blog Highlights: Amazon, Alibaba, Walmart, Berkshire Hathaway and JPMorgan Chase
Henry Xia jumps into the burnt toast-colored electric car he helped build as co-founder of Xpeng Motors Technology Ltd. and commands it to play Green Day’s “21 Guns.” He asks the car about traffic conditions and starts driving. What the four-year-old startup has is backing from tech giants Alibaba Group Holding Ltd., Foxconn Technology Group and Xiaomi Corp. founder Lei Jun. Xpeng expects to raise more than $600 million this month from investors that include Alibaba, valuing it close to $4 billion, according to a person familiar with the fundraising.
Ele.me, the food delivery platform acquired by Alibaba Group Holding Ltd., is on the hunt for $2 billion of new financing to help in its fight against Meituan Dianping, people familiar with the matter said. The Chinese company is seeking funds from potential investors such as venture capital firms to expand a business that’s burning enormous amounts of cash, according to the people, who requested not to be named because the matter is private. While it’s unclear how big a stake is available in Ele.me, which was valued at $9.5 billion in April’s Alibaba acquisition, investors would get a piece of a company that’s a candidate for a future initial public offering, the people added.
The tense climate between the US and China, which has seen the two largest world economies target each other with trade restrictions, is worrying Chinese e-commerce giant JD.com (JD). The trade tensions have forced JD to pause its US expansion plans, the company’s founder and chief executive officer, Richard Liu, told CNBC last month.
Online retailers are increasingly using self-made shopping holidays to fuel sales, and JD.com (JD) is keeping up with the trend. While Amazon (AMZN) has its Prime Day and Alibaba (BABA) has Single’s Day, JD has its 618 Shopping Festival, which commemorates its founding on June 18.
Alibaba Group Holding stock has fallen 10% from its recent record high as investors ditched it and shares of other Chinese companies amid an intensifying trade dispute. Put options confer the right to sell stock at a designated date and price, known as a “strike.” Call option contracts give investors the right to buy shares at such a strike price.
Chinese tech giants aren’t the hot hedge fund favorites they once were. Alibaba and Tencent are giving way to a new crop of top picks: smaller non-Chinese companies that have been quietly surging even as valuation worries and market jitters have weighed down the behemoths. Among the winners are Taiwan’s Wiwynn Corp. and Yageo Corp., whose shares have more than tripled in 2018, and San Mateo, California-based Coupa Software Inc., whose shares have doubled.