智通财经网·2025-10-14 06:23Core Viewpoint - Alibaba's stock has declined over 4%, currently trading at 156 HKD, with a trading volume of 20.43 billion HKD. Goldman Sachs has significantly raised its capital expenditure forecast for Alibaba for the fiscal years 2026-2028 to 460 billion RMB, indicating a positive outlook driven by advancements in AI and international expansion potential [1][1][1] Group 1: Financial Performance - Goldman Sachs expects Alibaba's EBITA for the September quarter to decline by 80% year-on-year, primarily due to investments in the instant e-commerce business, which includes food delivery services [1][1] - The instant e-commerce business reported a loss of 11 billion RMB in the June quarter, which is anticipated to increase to 36 billion RMB in the September quarter [1][1] Group 2: Growth Potential - The breakthrough advancements in Alibaba's AI cloud computing capabilities and the potential for international expansion are seen as new drivers for stock price growth [1][1] - Goldman Sachs projects that by the fiscal year 2028, international business will contribute to one-fourth of Alibaba Cloud's external revenue [1][1] Group 3: Stock Rating - Goldman Sachs has raised its target price for Alibaba's U.S. and Hong Kong stocks by approximately 14% while maintaining a "Buy" rating [1][1]