Ge Long Hui·2025-10-13 13:07Core Viewpoint - Goldman Sachs has raised Alibaba's capital expenditure forecast for the next three years significantly to 460 billion RMB, marking the highest market prediction, and has increased its 12-month target price for US stocks by 14% from $179 to $205, while also raising the target price for Hong Kong stocks by 14% from HK$174 to HK$199, maintaining a "Buy" rating [1] Group 1: Financial Projections - The future capital expenditure forecast for Alibaba has been raised to 460 billion RMB, which is the highest among market predictions [1] - The target price for US stocks has been increased by 14% from $179 to $205 [1] - The target price for Hong Kong stocks has also been raised by 14% from HK$174 to HK$199 [1] Group 2: Revenue Growth Expectations - Cloud revenue growth for the next three quarters has been adjusted to year-on-year increases of 31%, 38%, and 37% due to breakthroughs in AI models and diversified chip supply support [1] Group 3: Market Sentiment and Investment Opportunity - Despite recent declines in Alibaba's earnings due to losses from instant e-commerce investments, the market should focus on the initial profitability turnaround of the Taobao and Tmall platforms and the growth potential in international cloud services [1] - The recent stock price pullback is viewed as an attractive buying opportunity [1]