Alibaba and Other Chinese Tech Stocks Slump. Singles Day Sales Aren’t the Only Reason for Concern.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 12 2024
0mins
Source: Barron's
Impact of U.S. Tariffs on Chinese Stocks: Chinese stocks, particularly tech companies like Alibaba and JD.com, faced declines due to concerns over potential U.S. tariffs, overshadowing the results of Singles Day, a key shopping event in China.
Consumer Sentiment and Economic Measures: Despite record active buyers reported by Alibaba and increased shoppers for JD.com, consumer spending remains cautious, prompting analysts to express uncertainty about China's economic recovery amid ongoing tensions with the U.S.
Analyst Views on NKE
Wall Street analysts forecast NKE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NKE is 76.11 USD with a low forecast of 62.00 USD and a high forecast of 110.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
21 Analyst Rating
14 Buy
7 Hold
0 Sell
Moderate Buy
Current: 65.460
Low
62.00
Averages
76.11
High
110.00
Current: 65.460
Low
62.00
Averages
76.11
High
110.00
About NKE
NIKE, Inc. is engaged in the designing, marketing and distributing of athletic footwear, apparel, equipment and accessories and services for sports and fitness activities. The Company's operating segments include North America; Europe, Middle East & Africa (EMEA); Greater China; and Asia Pacific & Latin America (APLA). It sells a line of equipment and accessories under the NIKE Brand name, including bags, socks, sport balls, eyewear, timepieces, digital devices, bats, gloves, protective equipment and other equipment designed for sports activities. It also designs products specifically for the Jordan Brand and Converse. The Jordan Brand designs, distributes and licenses athletic and casual footwear, apparel and accessories predominantly focused on basketball performance and culture using the Jumpman trademark. The Company also designs, distributes and licenses casual sneakers, apparel and accessories under the Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell trademarks.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
