Jim Cramer’s Bold Predictions About These 15 AI Stocks

7. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders In Q3 2024: 115

Date of Cramer’s Comments: 8-19-24

Performance Since Then: 1.37%

Alibaba Group Holding Limited (NYSE:BABA) is a Chinese technology conglomerate that is also one of the largest eCommerce players in the country. Estimates show that the firm commands at least 40% of merchandise shipments in China. Alibaba Group Holding Limited (NYSE:BABA) also enjoys a key place in China’s cloud computing and AI industries through its Alibaba Cloud and Alimama businesses and tools. However, the shares are up by just 13.8% year-to-date and have lost 14.3% since the November election due to the incoming Trump administration’s perceived hard stance against China. Recently, Alibaba Group Holding Limited (NYSE:BABA) has sought to consolidate its eCommerce businesses to compete with upstarts like PDD and introduced open-source AI models to establish an industry foothold. Here’s what Cramer said:

“Susquehanna lowered its price target on Alibaba to $130 a share from $135, but maintained its positive rating on the Chinese e-commerce and cloud giant’s stock. Despite a sluggish Chinese economy, analysts touted Alibaba’s progress on AI initiatives and noted its most recent earnings report showed better-than-expect profits.”