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While US big techs have done very well for many years by now, what I do want to emphasise is the point that this may not be the case for Chinese big tech at least in terms of share price outperformance. Why?
If you see the news on US review of Alibaba cloud, Lithuania concerns over data security concerning Xiaomi phone, Huawei being included in Sanction list, etc, I have to ay that the days ahead for Chinese big tech will not be smooth sailing. Yes Alibaba and Tencent have both come down alot from all time peak but Alibaba's days ahead will not be smooth sailing. For Tencent, I still prefer it over Alibaba.
With antitrust measures against Chinese big tech and the technological competition between US and China, the Chinese big tech like Alibaba and Tencent will not be having good days. Xiaomi is still alot smaller than that of Alibaba and may be still be supported by Chinese authorities since Xiaomi belongs to the hard tech part. It is working on chip developments as well as electric vehicle manufacturing, which is consistent with China's carbon reduction plan.
So all in all, I will stay out of Alibaba and will continue to do so unless it hits 80 USD before I revisit the company again to make a reassessment. I believe other smaller chinese tech stocks will do better in terms of price outperformance in 2022.
As always, this should not be construed as any investment or trading advice.
$Alibaba(BABA)$$Alibaba(09988)$$TENCENT(00700)$$XIAOMI-W(01810)$$Xiaomi Corp.(XIACY)$$JD.com(JD)$$Pinduoduo Inc.(PDD)$
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