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Alibaba, PDD Holdings, and JD.com have a combined market cap that is only one-fourth of Amazon's. Goldman Sachs: Huge room for revaluation of the value of Chinese e-commerce.
Goldman Sachs pointed out that the median PE ratio of the Chinese internet plus-related industry for the next 12 months is 14.3 times, with a discount of over 40% compared to the USA internet plus-related industry. The valuations of e-commerce companies such as alibaba, pdd holdings, and jd.com are only 9-12 times, still lower than the median of the chinese internet plus-related industry, with great potential for value reassessment.
Goldman Sachs raised the target prices of Alibaba (09988.HK), jd.com (09618.HK), Tencent (00700.HK), and Meituan (03690.HK).
Goldman Sachs regards e-commerce stocks and gaming stocks as the most preferred sectors in the mainland internet industry, based on the mainland's stronger-than-expected growth and loose policies, the e-commerce market gradually stabilizing under the condition of overall stable market share, as well as alibaba (09988.HK) (BABA.US), pdd holdings (PDD.US), and jd.com (JD.US) (09618.HK) with a pe ratio of only 9 to 12 times, with a combined market cap of only $500 billion, compared to Amazon (AMZN.US)'s $2.1 trillion market cap. The bank believes that mainland e-commerce, as the world's largest e-commerce market, will provide in the mainland internet sector
Express News | US stock night trading: Chinese concept stocks fluctuated, with nio inc up nearly 3%, jd.com down nearly 2%.
Top 20 turnover | Apple rose more than 2%, with a turnover exceeding 12.6 billion US dollars; pdd holdings fell by 0.42%, with a cumulative increase of over 40% in September
On Monday, the turnover of the US stock market's top performer nvidia rose by 0.03%, with a turnover of $27.304 billion; the second-place tesla rose by 0.45%, with a turnover of $21.009 billion; the third-place apple rose by 2.29%, with a turnover of $12.669 billion.
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