To compare it with amazon valuation is a big mistake , we talk about China, If you discount Amazon with 7.5% Baba deserve 11% discount rate. Personally i dont see what inputs you put to see it as undervalued. With my inputs i get under 100$ value. I use as a revenue growth around 15% in the next 5 years and around 9% in the next five with operating margin 16-16.5 %. I give cost of capital around 9%.$Alibaba(BABA)$
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