10 Best Foreign Stocks to Buy According to Billionaires

6. Alibaba Group Holding Limited (NYSE:BABA)

Number of Billionaire Investors: 17

Value of Billionaire Holdings: $2.60 billion

A Chinese tech giant, Alibaba Group Holding Limited (NYSE:BABA) is favored by 17 billionaire investors, making it one of the best foreign stocks to monitor. In November 2023, Jack Ma called on Alibaba to “correct its course” as the company faced one of its toughest periods, including plummeting stock prices, slowing growth, intense competition, and ongoing government scrutiny. Fast forward to today, and Alibaba is making a strong comeback. Its core business is growing again, and the company is emerging as a major AI player, competing with OpenAI and DeepSeek. Alibaba’s US-listed shares have jumped nearly 60% this year, adding over $100 billion in value.

For Q4 2024, Alibaba Group Holding Limited (NYSE:BABA)’s revenue was up 8% year-over-year, hitting $38.38 billion. Operating income jumped 83% to $5.65 billion, helped by fewer asset write-downs and better profitability. Net income skyrocketed 333% to $6.36 billion for the quarter, boosted by gains in equity investments. Adjusted net income also grew 6% to $7 billion, and earnings per share rose 13%. As of December 31, 2024, Alibaba held $83.58 billion in cash, short-term investments, and other treasury assets, slightly down from $83.98 billion in March. The decline was mainly due to share buybacks of $11.25 billion, dividend payments of $3.98 billion, acquiring more equity in subsidiaries for $2.73 billion, and debt repayment of $2.22 billion.

On March 28, Mizuho Securities upped its price target for Alibaba Group Holding Limited (NYSE:BABA) from $140 to $170, keeping an Outperform rating. The firm sees Alibaba as a leader in AI, working toward artificial general intelligence, expanding AI model APIs, and rolling out AI-driven solutions. Mizuho expects these investments to boost productivity, improve recommendations, and increase conversions. Alibaba is now on Mizuho’s Top Picks list for Asia’s Internet sector.