As of May 26, 2023, Alibaba’s shares are experiencing an increase in trading activity, thanks to the overall strength of Chinese stocks. This surge in the market can be attributed to Baidu‘s rise in pre-market trading, which has gained over 2% due to the anticipation of the launch of their latest language model, Ernie 3.5.
According to Baidu’s CEO, the launch of Ernie 3.5 LLM is imminent and will be available to the public “very soon.” This new language model is expected to power the company’s generative AI app, Ernie Bot, and further boost investor interest in large language models and generative AI.
Baidu’s stock has already seen a significant increase of almost 27% over the past six months, thanks in part to the company’s announcement of their plans to launch an artificial intelligence chatbot called Ernie Bot in February 2023. The launch of Ernie 3.5 is expected to further fuel this growth and jump-start Baidu’s dominant search business by attracting more advertising dollars.
Overall, the launch of Ernie 3.5 is eagerly anticipated by investors and is expected to have a significant impact on Baidu’s future growth and success.
Alibaba Group Holding Limited (BABA) Stock Update: May 26, 2023
On May 26, 2023, Alibaba Group Holding Limited (BABA) opened at 79.89, slightly higher than the previous day’s close of 78.78. The stock had a day’s range of 78.40 – 81.56 and a volume of 10,834,026. BABA’s earnings growth in the last year was +12.55%, while this year’s earnings growth is +7.40%. The expected earnings growth for the next five years is +1.70%. The revenue growth in the last year was -4.69%. BABA’s next reporting date is on August 17, 2023, with an EPS forecast of $14.25 for this quarter. The annual revenue in the last year was $126.7B, and the annual profit was $10.6B, with a net profit margin of 8.35%. BABA’s corporate headquarters is located in Hangzhou, Zhejiang.
Alibaba Group Holding Ltds Stock Predicted to Increase by 71.37%: Analysts Offer 12-Month Price Forecasts
On May 26, 2023, Alibaba Group Holding Ltd’s stock (BABA) closed at a price of $81.12. However, according to the 52 analysts offering 12-month price forecasts, the median target price for BABA stock is $139.02, with a high estimate of $179.73 and a low estimate of $73.18. This indicates a potential increase of +71.37% from the last price of $81.12.
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