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Alibaba market value US$360 billion

Tinuku ~ Bullish sales forecasts recorded market value Alibaba Group Holding Limited jumped to US$360 billion as the No.1 company in Asia and the world's largest e-commerce platform with sales value for fiscal 2018 is projected increase 49 percent or 10 percent points higher than the original estimate.

Tinuku Alibaba market value US$360 billion

Alibaba Group is Asia's most valuable company and exceeds 8 percent compared to its closest rival. Stocks traded in New York rose to a record behind forecasts of bullish sales in 2018 that beat any analyst forecasts.

Alibaba shares jumped 13.3 percent to a record $142.30 in New York and boosted market capitalization to $360 billion or 8.4 percent higher than Tencent Holdings shares as Asia's most valuable company.

Revenue will increase 45 percent to 49 percent in March 2018 or higher than the 35 percent average forecast in a Bloomberg poll of 43 analysts. The prime mover is the highly detailed and accurate consumer targeting for consumers to spend money on Alibaba.

Alibaba founded by Jack Ma Yun in 1999 has 448 million online shoppers in China helping the company record a $547 billion gross worth of merchandise for fiscal March 31, 2017. Sales in 2017 rose 56 percent to 158.27 billion yuan (US$23.29 billion).

"Despite having a bigger base, we continue to accelerate our revenue growth," said Alibaba's financial chief Maggie Wu during the annual Alibaba investor show in Hangzhou.

"Alibaba eased concerns that China's slowing economy will dampen online sales. Revenue growth and increased transaction volume on Alibaba's retail is a driver that has a broader value proposition for merchants, brands and customers," Wu said.

The entertainment content, video streaming and digital music are getting stronger in the Chinese market contributing to Alibaba's business growth. The company has also made a major boost in cloud computing services similar to AWS Amazon. The cloud business unit accounts for 5 percent of total revenue.
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