Zhi Tong Cai Jing·2026-01-12 14:32Group 1 - Alibaba's stock rose over 4% to $157.45 ahead of market opening on Monday [1] - JPMorgan suggests investors consider gradually accumulating Alibaba shares, maintaining a constructive outlook for the next 6 to 12 months [1] - The company is facing short-term pressure on profit margins due to increased investments in food delivery, fast e-commerce, and generative AI applications, alongside a weak macroeconomic environment affecting its core domestic e-commerce growth [1] Group 2 - Market has largely absorbed the negative factors impacting Alibaba, with the pace and scale of investments being controllable strategic inputs by the company [1] - Morgan Stanley anticipates that Alibaba Cloud's revenue growth will accelerate in the coming quarters as generative AI workloads expand from pilot phases to broader deployment [1] - Stable growth momentum in cloud business over several quarters is expected to shift investor focus from short-term expenditures to the sustainability of higher-quality growth engines, supporting valuation multiple expansion [1]