“短期内没人会说估值过高！”，投资者热议“阿里FOMO”

Group 1 - Alibaba's market capitalization has surged by $250 billion this year, driven by the AI boom, leading to increased "fear of missing out" (FOMO) among investors, although fund managers believe there is still room for further price increases [1] - Alibaba's stock price rose 1.7% last Friday, reaching its highest level since August 2021, yet it remains over 65% below its historical peak, while major US tech stocks are nearing their highs [1] - Investors find Alibaba's valuation attractive, with global funds currently underweight in the stock, suggesting potential for continued price appreciation [1] Group 2 - Alibaba plans to expand its previously set AI investment budget of $53 billion over the next three years, although specific figures were not disclosed, contrasting with the $344 billion expected investment by the top four US cloud service providers this year [2] - Alibaba Cloud reported a 26% revenue growth in the latest quarter, making it the fastest-growing business unit within the group, indicating the effectiveness of its AI transformation strategy [2] - Alibaba is one of the few Chinese companies with leading capabilities in large language models, AI chip acquisition, cloud infrastructure experience, and rich core business data, attracting global investor attention [2] Group 3 - Alibaba's current expected price-to-earnings (P/E) ratio is approximately 22 times, which, while double its three-year average, is in line with the Hang Seng Tech Index and significantly lower than its historical peak of nearly 29 times [3] - Compared to major global tech stocks, Alibaba's valuation appears more moderate, with its P/E ratio being much lower than that of Amazon and Microsoft, making it a more comfortable entry point for many global investors [3] - As of the end of August, international funds were still underweight in Alibaba by 1.3% compared to the MSCI China Index, with some foreign fund managers, like Cathie Wood, recently re-entering Alibaba's American Depositary Receipts for the first time in four years [3]