Alibaba Stock Still Undervalued, Morningstar's Tam Says

The video discusses Alibaba's expected 8% decline in fiscal 2023 due to investments in content, cloud, and after-sales services, alongside macroeconomic challenges. It predicts market recovery in the next year, with the June quarter as the bottom. The primary listing in Hong Kong may diversify Alibaba's investor base but its impact on valuation is uncertain. The stock is considered undervalued due to regulatory fears and ecommerce competition, with short-form video platforms posing significant challenges.

How does the primary listing in Hong Kong affect Alibaba's investor base?

What are the main reasons cited for Alibaba's low stock multiples?