The main highlight of Alibaba's performance tonight: the growth rate of Alibaba Cloud will determine the stock price.
Morgan Stanley believes that the revenue growth of Alibaba Cloud will be a key catalyst for Alibaba's stock price, which is expected to grow by 17-20% in the baseline scenario, leading to a stock price increase of 1-3% to $133-136.
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Bridgewater reduced its shareholding in Google, NVIDIA, Meta, among others, bought a lot of Gold, entered JD.com, and increased shareholding in Alibaba and Baidu.
In the first quarter, Bridgewater initiated new purchases of Gold ETFs exceeding 0.3 billion USD, JD.com over 0.1 billion USD, Chubb Insurance, Goldman Sachs, and others. Increased holdings in Alibaba, Baidu, Booking Holdings, etc. Fully liquidated ON Semiconductor, Moderna, Lyft Inc, Chewy, and others. Reduced holdings in SPDR S&P 500 ETF and also decreased positions in Google parent company Alphabet, NVIDIA, AppLovin, Meta Platforms, and others.
Bridgewater's Q1 Hold Positions reflect a "risk aversion principle": heavily buying Alibaba while cutting positions in the S&P and entering the Gold ETF.
In the first quarter of this year, Bridgewater cut its largest Hold Positions, the SPDR S&P 500 ETF, by nearly 60%; Alibaba received full support from Bridgewater to increase its positions, becoming the largest heavily weighted stock; Baidu, PDD Holdings, JD.com, and other representatives of Assets in China were also bought or established positions by Bridgewater.
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