๐ Bet on Alibaba Stock Movement and Win Tiger Coins!
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The Dow Jones Industrial Average fell 89.37 points, or 0.21%, to 42,051.06 and The Nasdaq Composite gained 136.72 points, or 0.72%, to 19,146.81. The S&P 500 gained 6.03 points, or 0.10%, to 5,892.58.
NVIDIA gained 4.2% after the leading maker of artificial-intelligence chips jumped 5.6% on Tuesday following CEO Jensen Huang's announcement the company was joining with Saudi Arabia's state-backed Humain on a 500-megawatt data-center project.
Advanced Micro Devices rose 4.7% after its board approved a new $6 billion stock buyback program. Added to an existing plan, the chip maker has the authority to repurchase around $10 billion worth of shares. AMD gained 4% on Tuesday after it was announced the company also would be supplying semiconductors to Saudi Arabia's Humain in a $10 billion project.
Super Micro Computer extended gains, rising 16% to $45 on Wednesday after closing with a gain of 16% in the previous session. Analysts at Raymond James initiated coverage on shares of the server maker at Outperform with a price target of $41.
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๐๐๐ Bet on Alibaba Stock Movement and Win Tiger Coins!
Click here to vote! Guess how will $Alibaba(BABA)$ move today? If you get the correct answer, you may divide 1000 Tiger Coins among other Tigers.
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Bet on Alibaba's ups and downs tonight to win Tiger Coins(Single choice)Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Analysts have shown increased confidence in Alibaba's prospects. For instance, Benchmark Co. raised its price target to $190, citing growth driven by AI initiatives, while Jefferies highlighted the company's potential in cloud and AI sectors.
The broader market is experiencing a positive trend, with major indexes like the Nasdaq clearing their 200-day moving averages. This general market strength may contribute to favorable conditions for Alibaba's stock.
1. Earnings Report Due Today
Alibaba is set to release its Q4 fiscal 2025 earnings today. Analysts anticipate a 6.4% year-over-year revenue growth, with expectations of strong performance in its Cloud Intelligence and International Digital Commerce segments. The outcome of this report could significantly influence the stock's movement.