Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others. It operates Taobao and Tmall, which are digital retail platforms; Alimama, a proprietary monetization platform; 1688.com and Alibaba.com, which are online wholesale marketplaces; AliExpress, a retail marketplace; Lazada, Trendyol, and Daraz that are e-commerce platforms; Freshippo, a retail platform for groceries and fresh goods; and Tmall Global, an import e-commerce platform. The company also operates Cainiao Network logistic services platform; Ele.me, an on-demand delivery and local services platform; Koubei, a restaurant and local services guide platform; and Fliggy, an online travel platform. In addition, it offers pay-for-performance, in-feed, and display marketing services; and Taobao Ad Network and Exchange, a real-time online bidding marketing exchange. Further, the company provides elastic computing, storage, network, security, database, big data, and IoT services; and hardware, software license, software installation, and application development and maintenance services. Additionally, it operates Youku, an online video platform; Quark, a platform for information search, storage, and consumption; Alibaba Pictures and other content platforms that provide online videos, films, live events, news feeds, literature, music, and others; Amap, a mobile digital map, navigation, and real-time traffic information app; DingTalk, a business efficiency mobile app; and Tmall Genie smart speaker. The company was incorporated in 1999 and is based in Hangzhou, the People's Republic of China.

Фундаментальные показатели Alibaba демонстрируют смешанную картину. С одной стороны, мультипликатор P/E на уровне 15.35 ниже медианы отрасли на 22.1%, что указывает на возможную недооцененность. Однако, мультипликатор P/S в 2.57 значительно выше медианы, что может свидетельствовать о переоцененности компании. Долговая нагрузка остается низкой с коэффициентом debt_equity_ratio 0.19, что является позитивным знаком. Тем не менее, показатели рентабельности, такие как ROE и ROA, ниже медианных значений, что может вызывать опасения у инвесторов. Дивидендная доходность снизилась до 0.81%, что также негативно сказывается на восприятии акций. Несмотря на это, прогнозируемая EPS на уровне 2.40 значительно выше медианы отрасли, что дает надежду на рост прибыли в будущем. В общем, ситуация требует осторожности, так как сильные и слабые стороны компании могут привести к неопределенности в оценке.

Alibaba Group Holding Limited

Key Points
SpaceX aims to raise $75 billion from its IPO and is seeking a valuation of $1.75 trillion to $2 trillion.
Retail investor buzz surrounding the SpaceX IPO is off the charts -- and rightfully so, with the space economy and artificial intelligence representing some of the largest long-term addressable opportunities.
However, retail investors have a terrible habit of being overzealous with Wall Street's largest IPOs.
This year is shaping up as one of the most consequential in history for initial public offerings (IPOs). Artificial intelligence (AI) large language model developers OpenAI and Anthropic, which both sport estimated valuations in the neighborhood of $1 trillion, are contemplating going public before the year ends. Meanwhile, the largest expected IPO in Wall Street history, SpaceX, is right around the corner.
When SpaceX goes public, presumably in the second half of June, it'll likely command a market cap of $1.75 trillion to $2 trillion. This would make this space infrastructure and AI titan the eighth-largest publicly traded company on U.S. stock exchanges, slotting it ahead of Elon Musk's other trillion-dollar business, electric-vehicle maker Tesla (NASDAQ: TSLA).
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
The hype surrounding SpaceX is palpable – so much so that up to 30% of the company's shares may be set aside for retail investors. Most IPOs portion 5% to 10% of shares for everyday investors.
It's easy to be excited when several of SpaceX's puzzle pieces are growing at a breakneck pace. Space infrastructure and artificial intelligence are two of the largest addressable opportunities over the coming decade. When Musk's company files its registration statement (S-1), we'll get a true feel for just how fast SpaceX is growing.
Retail investors have a terrible habit of being overzealous with Wall Street's largest IPOs
But while SpaceX is drumming up plenty of interest for its historic debut, it's likely also luring potentially millions of retail investors into a costly mistake.
The $75 billion (or more) that SpaceX aims to raise from its IPO would be the most in history by a long shot. The current largest IPO recordholder is Saudi Aramco, which raised $29.4 billion from its overseas debut in December 2019.
In terms of capital raises, U.S. investors have witnessed a handful of big-time debuts since 1999, including Facebook (now Meta Platforms), Alibaba Group, Visa, General Motors, and United Parcel Service. With the exception of China's largest e-commerce and cloud infrastructure services platform, Alibaba, these other businesses are household names, and they generated a mountain of retail investor buzz before their respective IPOs.
Something else most of these companies have in common is that they sputtered out of the gate. Although Visa rallied 23% in the six months following its public debut, Meta, Alibaba, General Motors, UPS, and even Saudi Aramco, tumbled by 38%, 9%, 8%, 11%, and 15%, respectively, in the six months following their IPOs.
History has shown that investors have a terrible habit of being overzealous with brand-name IPOs, and there's a high probability this will be the case with SpaceX.
SPACEX HAS OFFICIALLY FILED FOR AN IPO.
SpaceX Revenue -- $15B, targeting a $1.75T valuation$META Revenue -- $200B, currently at a $1.45T valuation
Are you buying the SpaceX IPO?
-- amit (@amitisinvesting) April 1, 2026
Putting aside the well-known long-term growth prospects for the space economy and AI, SpaceX is trading at a triple-digit (and likely unsustainable) price-to-sales ratio, based on a January Reuters report that the company generated $15 billion to $16 billion in sales last year.
History also tells us that every game-changing technology and trend endures an early stage bubble-bursting event. If the space economy and AI follow the same pattern other next-big-thing trends have for more than three decades, SpaceX's valuation premium would be hard to justify.
Don't make the costly mistake of piling into SpaceX stock on day one. If you want exposure to the SpaceX growth story, history suggests you be patient and wait for the early overzealousness to wear off.
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Sean Williams has positions in Meta Platforms and Visa. The Motley Fool has positions in and recommends Meta Platforms, Tesla, United Parcel Service, and Visa. The Motley Fool recommends Alibaba Group and General Motors. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

SpaceX IPO: Potentially Millions of Retail Investors Will Make This Costly Mistake -- Don't Be One of Them

Key Points
This may represent the year of the mega-initial public offering (IPO), headlined by Elon Musk's SpaceX, which is seeking a valuation of up to $2 trillion.
Wall Street's largest IPOs have historically fallen flat after their debuts.
Furthermore, SpaceX's price-to-sales ratio is triggering historic bubble warnings.
If you thought the dot-com era was the peak for initial public offerings (IPOs) on Wall Street, you haven't seen anything yet.
This year has an opportunity to go down as the greatest ever for mega-IPOs. Both leading artificial intelligence (AI) large language model (LLMs) developers, OpenAI and Anthropic, are tinkering with the idea of going public before the year ends. But the crème-de-la-crème of public debuts is expected to be Elon Musk's SpaceX.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
SpaceX is on the verge of becoming the world's largest-ever IPO
On April 1, SpaceX confidentially filed for an IPO, putting the wheels in motion for what should be the biggest IPO in history by a substantial sum. Various reports suggest SpaceX is seeking a $75 billion capital raise, with a market value of between $1.75 trillion and $2 trillion.
To put this figure into perspective, the largest global IPO in history is integrated oil and gas titan Saudi Aramco, which doesn't trade on U.S. exchanges. When Saudi Aramco went public in December 2019, it raised $29.4 billion. SpaceX could potentially raise close to three times this amount, depending on investor interest.
The good news is that investor enthusiasm for the SpaceX IPO should be off the charts.
For starters, it encompasses two of the largest addressable markets on the planet: space and artificial intelligence. McKinsey & Company views the global space economy as a $1.8 trillion global opportunity by 2035, while PwC analysts foresee AI creating $15.7 trillion in global economic value by 2030. Even if these figures have overshot the mark, they demonstrate how high the long-term ceiling is for these game-changing trends.
There's also the Elon Musk factor. Musk took electric-vehicle maker Tesla public in 2010 and turned it into a trillion-dollar company. Musk's lofty visions within the context of space infrastructure, AI data centers, LLMs, and social media (SpaceX also owns social media platform X) should drive sustained, supercharged sales growth.
While there are several ways to gain exposure to SpaceX prior to its upcoming IPO, history suggests a $1 trillion warning looms large for investors.
Wall Street's largest IPOs have historically flopped out of the gate
Let me preface the following discussion with a qualifying statement: the past can't predict the future with 100% accuracy. But in the case of the world's largest IPOs, history has been shown to rhyme on more than one occasion.
When large or brand-name companies file to go public, it's not uncommon for investors to be overzealous. The problem is that the luster of newly public companies quickly wears off, based on what history tells us.
Since 1999, we've witnessed five mammoth IPOs domestically, as well as the aforementioned Saudi Aramco debut overseas. Here's what the scoreboard looked like six months after their respective public debuts:
Alibaba Group: Down 9%
Visa: Up 23%
General Motors: Down 8%
United Parcel Service: Down 11%
Saudi Aramco: Down 15%
On average, the largest IPOs were down around 10% six months after their debut, which would translate into a potential loss of $200 billion in market cap for SpaceX.
But the closest apples-to-apples comparison from an innovative standpoint is Meta Platforms. Just 3.5 months after Meta's IPO, its shares had plunged by 54%. Although Meta has handily outperformed the benchmark S&P 500 (SNPINDEX: ^GSPC) over the long term, the months following its public debut were dicey, at best.
Meta's underperformance was a direct reflection of its IPO being overpriced, and of investors doubting whether the company could adjust to shifting dynamics (e.g., users shifting from desktop to mobile devices).
SpaceX brings similar concerns to the table. It's operating in highly capital-intensive industries and, with a prospective valuation of $1.75 trillion to $2 trillion, is being priced for perfection among trends we know are imperfect. If SpaceX follows a similar path to Facebook, it could shed $1 trillion in market value in the months following its debut.
SpaceX's price-to-sales ratio points to a historic bubble
However, the past performance of large-scale IPOs isn't the only historical headwind for SpaceX. One time-tested valuation metric -- the price-to-sales (P/S) ratio -- suggests that SpaceX is in trouble.
To be fair, SpaceX hasn't yet released a prospectus ahead of its IPO, so there isn't a lot of hard operational data for investors to pore over. But earlier this year, Reuters reported that SpaceX generated $15 billion to $16 billion in sales in 2025. Keep in mind that this figure doesn't include xAI or social media platform X.
If SpaceX corrals enough investor interest to reach a $2 trillion valuation, it would be trading at a trailing 12-month P/S ratio of 125! Let's put this figure into perspective.
Before the dot-com bubble burst in early 2000, several high-profile companies at the leading edge of the internet revolution peaked at P/S ratios ranging from 30 to 45, with a bit of wiggle room at each end of the spectrum. This arbitrary line in the sand helped identify dot-com-era tops for Microsoft, Cisco Systems, and Amazon.
This arbitrary valuation peak has held true through numerous subsequent next-big-thing trends. In other words, history shows that trailing 12-month P/S ratios above 30 aren't sustainable over extended periods.
Although there's a high probability that SpaceX's prospectus, including xAI and X, will lower the company's P/S ratio below 125, there's an equally good chance that it's still well above 30.
It's not uncommon for publicly traded companies at the forefront of a game-changing trend to eventually shed 50% or more of their value if their P/S ratio exceeds 30. If this bit of history proves accurate, SpaceX could lose $1 trillion (or more) of its market cap.
Though SpaceX might be the most popular IPO we've ever seen, popularity doesn't necessarily translate to profits on Wall Street.
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Sean Williams has positions in Amazon, Meta Platforms, and Visa. The Motley Fool has positions in and recommends Amazon, Cisco Systems, Meta Platforms, Microsoft, Tesla, United Parcel Service, and Visa. The Motley Fool recommends Alibaba Group and General Motors. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

History Has a $1 Trillion Warning for SpaceX and Its Prospective Shareholders

Key Points
Mega-IPO winners of the past include Meta Platforms and Arm Holdings.
Big losers following mega-IPOs include Alibaba (eventually) and Rivian (almost immediately).
SpaceX appears to share more in common with Meta and Arm than it does Alibaba and Rivian.
History is about to be made. SpaceX plans to go public within the next few months at an astronomical valuation of $1.75 trillion. This market cap will make SpaceX the biggest IPO stock ever -- by far. The current record holder is Alibaba Group Holding (NYSE: BABA), which went public in 2014 at a market cap of roughly $169 billion.
Is SpaceX's IPO a generational buy? Or could it be the ultimate bubble? Perhaps the best way to answer these questions is to look back at previous monster IPOs.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
When mega‑IPOs become mega‑winners
Meta Platforms (NASDAQ: META) is easily the most successful mega-IPO to date. The company, then known as Facebook, went public in May 2014 with a market cap of around $81 billion. However, success seemed anything but guaranteed early on. Facebook's share price plunged more than 50% in the four months following its IPO.
What happened? Many investors viewed Facebook stock as overpriced. Some thought the company was overhyped. Mobile advertising was still a new market for Facebook at the time. There was considerable uncertainty about how well the company would be able to monetize the mobile opportunity.
In hindsight, any worries seem silly. Facebook went on to generate billions of dollars in mobile advertising revenue. Today, the company's core platforms command a daily audience of 3.58 billion people worldwide. The stock has delivered a lifetime return of roughly 1,640%.
Arm Holdings (NASDAQ: ARM) is another mega-winner among mega-IPOs. The British semiconductor and software design company got off to a much better start than Facebook. After its IPO in Sept. 2023 at a market cap of $54.5 billion, Arm's stock surged, then pulled back, but finished the year up 47%.
To be sure, Arm's shares have been highly volatile, with multiple huge up-and-down swings over the last two and a half years. However, the stock has more than quadrupled since its IPO. The secret to Arm's success is that it has benefited from seemingly insatiable demand for AI chips. The company's chips also dominate the smartphone market. As edge AI (where AI systems operate on local devices) adoption increases, Arm could benefit tremendously.
When mega‑IPOs eventually implode
However, some mega-IPOs eventually become mega-losers. For example, shares of reigning IPO champion Alibaba soared more than 200% between its Sept. 2014 IPO and August 2020. By mid-2022, though, the Chinese e-commerce stock had given up nearly all of those gains. Alibaba has rebounded since then, but it's still nowhere near its peak.
One major challenge for Alibaba was the political risk of operating in China. The stock's big sell-off that began in 2020 was in large part due to increased Chinese regulatory scrutiny.
Other mega-IPOs quickly implode. Rivian Automotive (NASDAQ: RIVN) is the most striking example. Immediately after its IPO in Nov. 2021 at a market cap of around $61 billion, the electric vehicle (EV) stock skyrocketed. However, the euphoria soon evaporated. Rivian promptly nosedived and remains more than 80% below its high mark.
Rivian's problems are numerous. The company has lost a lot of money. Competition in the EV market has increased significantly. Rivian has experienced production delays. Combined with an initial valuation that, in retrospect, was based largely on hype, it's not surprising that the stock has plummeted.
Generational buy or ultimate bubble?
Let's return to whether or not SpaceX is a generational buy or an ultimate bubble. The verdict could hinge on which past mega-IPOs the space stock is most like: Meta and Arm or Alibaba and Rivian?
Just as Meta dominates social media, SpaceX dominates satellite internet service and orbital launches. Like Meta, SpaceX has optionality. For example, the company owns AI contender xAI and has secured an option to acquire Cursor AI, a developer of AI coding assistants.
Both Arm and SpaceX have long-term secular tailwinds. Arm is riding the massive wave of AI and mobile computing. SpaceX stands to profit from the commercialization of space.
However, SpaceX also has some similarities with Alibaba and Rivian. For example, SpaceX has some political risk (albeit not the same as Alibaba's). The space company depends heavily on NASA and U.S. Department of Defense for its launch revenue. SpaceX founder Elon Musk's views are polarizing. It isn't out of the question that Musk's relationship with the company could hurt it if Democrats regain control of the executive and legislative branches. Like Rivian, SpaceX operates in a highly capital-intensive business.
I think that SpaceX shares more in common with Meta and Arm, though, than it does with Alibaba and Rivian. That doesn't necessarily mean that the stock will be a mega-winner rather than a mega-loser. If I had to wager, I'd bet on SpaceX as a generational buy. But history might not be a reliable guide with an IPO stock sporting a $1.75 trillion market cap.
Should you buy stock in Meta Platforms right now?
Before you buy stock in Meta Platforms, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Meta Platforms wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $498,522!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,276,807!*
Now, it’s worth noting Stock Advisor’s total average return is 983% — a market-crushing outperformance compared to 200% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 26, 2026.
Keith Speights has positions in Meta Platforms. The Motley Fool has positions in and recommends Meta Platforms. The Motley Fool recommends Alibaba Group. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The $1.75 Trillion Launch: Is SpaceX's IPO a Generational Buy -- or the Ultimate Bubble?

Key Points
SpaceX and OpenAI are reportedly planning to hold initial public offerings (IPOs) in 2026.
The companies' most recent valuations would easily make them the largest IPOs in U.S. history.
Stocks that go public with large market values frequently underperform the S&P 500.
SpaceX and OpenAI are reportedly preparing for what could be the two largest initial public offerings (IPOs) in U.S. history as measured by initial market values. While the listings are likely to be blockbuster events, investors should be cautious about diving in immediately.
SpaceX and OpenAI have very expensive valuations based on the financial data currently available, and stocks that go public with large market values have historically been poor long-term investments for investors who buy on day one. Here are the important details.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
SpaceX and OpenAI will go public with historic market values and expensive valuations
SpaceX has already filed IPO paperwork and is on pace to list shares in Q3 2026. Earlier this year, the rocket and satellite company merged with xAI, forming a combined entity worth $1.25 trillion. SpaceX reportedly posted a $5 billion loss on $18 billion in revenue in 2025, according to technology news site The Information. That gives the stock a very expensive price-to-sales (PS) ratio of 69.
OpenAI has not filed IPO paperwork, but the artificial intelligence start-up could go public as soon as Q4 2026. The company closed its latest funding round with a post-money valuation of $852 billion. Sales soared 225% to $13 billion in 2025, and OpenAI says revenue will more than double in 2026. Nevertheless, the company currently has a very rich PS multiple of 65 and does not expect to turn a profit until 2030.
For context, only one stock in the S&P 500 (SNPINDEX: ^GSPC) currently trades at a more expensive valuation than SpaceX and OpenAI. That would be Palantir Technologies at 75 times sales. So not only are SpaceX and OpenAI going public with monster market values, but the stocks will also likely have extraordinarily high valuation ratios when they start trading.
History says SpaceX and OpenAI could soar initially, then drop sharply
Since 2000, nearly 4,000 companies listed on U.S. stock exchanges (NYSE and Nasdaq) have held initial public offerings, according to Jay Ritter, director of the IPO initiative at the University of Florida. Those stocks gained an average of 30% on their first trading day.
However, the initial excitement generally fades quickly as investors take profits after early price appreciation. Companies that go public with larger market values are particularly vulnerable to swift reversals. The chart below shows the 10 largest U.S. IPOs (as measured by the initial market value), and it gives the three-month and one-year returns after each stock was listed.
Company
3-Month Return (Post-IPO)
12-Month Return (Post-IPO)
Alibaba Group
18%
(30%)
Meta Platforms
(50%)
(31%)
Uber Technologies
(4%)
(21%)
AT&T Wireless
(1%)
(3%)
Rivian Automotive
(36%)
(67%)
DiDi Global
(45%)
(79%)
United Parcel Service
(16%)
(15%)
Coupang
(22%)
(65%)
Enel
(5%)
1%
Arm Holdings
29%
189%
Median
(11%)
(26%)
As shown above, the 10 largest IPO stocks dropped by a median of 11% during the three-month period following their public debut, and they declined by a median of 26% during their first year as public companies.
What does that mean for SpaceX and OpenAI? Alibaba went public with a market value of $169 billion. That means SpaceX and OpenAI would easily be the largest IPOs in U.S. history at their current market values. So at whatever price shares close on day one, the chart says there is a 50-50 chance the stocks will drop at least 26% from that level over the next year.
SpaceX and OpenAI are likely to underperform the S&P 500 from their initial valuations
There is more bad news for investors eager to own shares of SpaceX and OpenAI. Most of the stocks listed in the last section have actually underperformed the S&P 500 since going public. That means investors would have been better off purchasing shares of an S&P 500 index fund.
Alibaba is up 44% since its 2014 IPO, trailing the S&P 500 by 212 percentage points.
Uber is up 79% since its 2019 IPO, trailing the S&P 500 by 70 percentage points.
Rivian is down 84% since its 2021 IPO, trailing the S&P 500 by 138 percentage points.
DiDi is down 73% since its 2021 IPO, trailing the S&P 500 by 139 percentage points.
UPS is up 57% since its 1999 IPO, trailing the S&P 500 by 365 percentage points.
Coupang is down 59% since its 2021 IPO, trailing the S&P 500 by 141 percentage points.
What about the others? Meta Platforms, Arm Holdings, and Enel have beat the S&P 500 since their IPOs, and the long-term performance of AT&T Wireless cannot be determined because it was acquired by Cingular (a company that later changed its name to AT&T Mobility, which is now a wholly owned subsidiary of AT&T).
Here's the big picture: SpaceX and OpenAI are two of the most anticipated IPOs in recent memory. The buzz could lead to tremendous price increases during their first few trading days, but investors should think twice before diving into the fray. In general, large IPOs have been poor long-term investments for investors who buy right away.
The most prudent course of action would be to stay on the sidelines until a more reasonable entry point presents itself. For instance, while Uber has significantly underperformed the S&P 500 since its IPO, the stock is up 143% over the last three years, essentially doubling the S&P 500's return. Investors who waited for a reasonable entry point have been well rewarded.
Should you buy stock in S&P 500 Index right now?
Before you buy stock in S&P 500 Index, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and S&P 500 Index wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $498,522!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,276,807!*
Now, it’s worth noting Stock Advisor’s total average return is 983% — a market-crushing outperformance compared to 200% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 26, 2026.
Trevor Jennewine has positions in Palantir Technologies. The Motley Fool has positions in and recommends Meta Platforms, Palantir Technologies, Uber Technologies, and United Parcel Service. The Motley Fool recommends Alibaba Group and Coupang. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The SpaceX and OpenAI IPOs Are Imminent. History Says the Stocks Will Do This When They Start Trading.

Key Points
ServiceNow is well positioned to become an AI orchestration layer.
Salesforce has made moves to position its platform to be an AI agent launching pad.
While artificial intelligence (AI) stocks continue to be market darlings, the same can't be said for software stocks. Software-as-a-service (SaaS) stocks have been absolutely hammered this year, and there doesn't appear to be any let-up.
While many SaaS companies continue to put up solid revenue growth, few outside of Palantir have seen their growth accelerate due to AI tailwinds, as many of their customers try to navigate what AI means to their own businesses and what their roadmaps should look like. Stagnant or decelerating revenue growth, meanwhile, has helped fuel the bear argument that the software sector is ultimately an AI loser.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
The bears believe Claude Code and similar agentic AI coding tools will allow organizations to easily create their own custom software. Meanwhile, they believe AI agents will eventually start to replace workers, noting that AI agents don't care about user interfaces (UIs), which helps erode the software moat. Even if this doesn't play out, at the very least, they think AI will lead to companies needing fewer software seat licenses.
The counter argument is that while AI is fast at generating code, it often isn't good at maintaining it. In a study done by Alibaba, the Chinese company found that 75% of code created by AI models failed in less than a year as they would sacrifice quality in favor of speed. Meanwhile, Claude Code has actually gotten worse after its release, with several customers publicly venting how security issues were popping up and how it could not be trusted.
While SaaS companies that are simple UI wrappers are likely vulnerable to AI, the ones that sit at the center of their customers' data and workflow are much better positioned and likely to survive. Organizations generally don't want to take on the added responsibility and risks of their software failing or an AI agent going rogue and causing damage. There is still comfort in having a software vendor maintain the stability and safety of their core software systems. Meanwhile, as AI agents do become more prevalent, the old seat-based pricing models will likely evolve into usage or hybrid seat and consumption models.
Let's look at two SaaS stocks that sit at the center of their customers' data that have strong upside potential.
ServiceNow: 85% upside
While its recent stock performance may not indicate it, ServiceNow (NYSE: NOW) is one of the best-positioned SaaS companies in the AI era. The company's configuration management database (CMDB) is generally the heart of its customers' technical infrastructure, and it is the orchestration tool and plumbing for their whole software stack. It's deeply embedded into its customers' workflow and data, and is an invaluable systems of record grounded in security permissions, custom business logic, and audit trails.
The company is still growing quickly, with revenue growth around 20%, and it has the potential to be a major player as an agentic AI orchestration platform with its new AI Control Tower solution. Put a 10 times price-to-sales (P/S) multiple on the stock, which is appropriate given its growth, and the stock would be $160, representing more than 85% upside.
Salesforce: 70% upside
One of the most proactive companies in the SaaS space to position itself for the age of agentic AI has been Salesforce (NYSE: CRM). Long a leader in breaking down data siloes between departments and being a core customer relationship management platform, the company has transformed itself to become the master of records for its customers' data. This is huge in and of itself when it comes to agentic AI, as AI agents need clean, structured data to pull from to avoid hallucinations.
Salesforce's introduction of its Data 360 solution brought with it zero-copy technology that can capture data from data warehouses and cloud providers without the time-consuming and expensive process of transferring it. The company then acquired Informatica to cleanse, structure, and govern all this data, making it the perfect agentic AI launch platform. The company had projected it can grow its revenue at a compound annual growth rate of about 11% through fiscal 2030.
Place a six times P/S multiple on the stock given its revenue growth outlook, and it would be a $300 stock, representing 70% upside.
Should you buy stock in ServiceNow right now?
Before you buy stock in ServiceNow, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and ServiceNow wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $498,522!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,276,807!*
Now, it’s worth noting Stock Advisor’s total average return is 983% — a market-crushing outperformance compared to 200% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 25, 2026.
Geoffrey Seiler has positions in Salesforce and ServiceNow. The Motley Fool has positions in and recommends Palantir Technologies, Salesforce, and ServiceNow. The Motley Fool recommends Alibaba Group. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

2 AI Stocks With 85% and 70% Upside to Buy During a Software Bear Market

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Avantis Emerging Markets Equity ETF (Symbol: AVEM) where we have detected an approximate $299.2 million dollar inflow -- that's a 1.3% increase week over week in outstanding units (from 254,600,000 to 258,000,000). Among the largest underlying components of AVEM, in trading today Alibaba Group Holding Ltd (Symbol: BABA) is up about 1.1%, ICICI Bank Ltd (Symbol: IBN) is down about 0.7%, and AngloGold Ashanti plc (Symbol: AU) is up by about 1.4%. For a complete list of holdings, visit the AVEM Holdings page » The chart below shows the one year price performance of AVEM, versus its 200 day moving average:
Looking at the chart above, AVEM's low point in its 52 week range is $59.4701 per share, with $90.685 as the 52 week high point — that compares with a last trade of $89.49. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Free Report: Top 8%+ Dividends (paid monthly)
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
Computer Peripherals Dividend Stocks
LGND Average Annual Return
Analyst Actions
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

AVEM, BABA, IBN, AU: ETF Inflow Alert

Key Points
SpaceX is preparing to go public and will likely be the largest initial public offering (IPO) in stock market history.
SpaceX's reported profitability in 2025 and its leadership -- its CEO, Elon Musk, also runs a trillion-dollar auto company, Tesla -- have investors excited.
However, mega-IPOs have a terrible initial track record, dating back to the late 1990s.
This is shaping up to be perhaps the greatest year for initial public offerings (IPOs) in history. Artificial intelligence (AI) large language model developers OpenAI and Anthropic are both contemplating going public later this year.
However, space infrastructure and AI titan SpaceX, led by Elon Musk, who also runs trillion-dollar electric-vehicle maker Tesla (NASDAQ: TSLA), aims to beat them to the punch.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
SpaceX might be the most consequential IPO of 2026
On April 1, reports surfaced that SpaceX had filed confidentially for an IPO. The company behind space broadband service Starlink, large language model Grok, xAI, social media platform X, and dozens of reusable spacecraft, is seeking a valuation of $1.75 trillion and a $75 billion capital raise. If these estimates prove accurate, SpaceX would become the largest-ever IPO by a long shot and slide in ahead of Tesla as the eighth-largest publicly traded company in the U.S.
There's a lot for investors to be excited about. For instance, Reuters reported earlier this year that SpaceX brought in up to $16 billion in revenue last year and generated an $8 billion profit. Though it took Tesla many years to turn the corner to recurring profitability, SpaceX appears to have crossed this proverbial line in the sand.
Prospective SpaceX IPO investors are also excited about the opportunity to ride Elon Musk's coattails to another huge gain. Since taking Tesla public in June 2010, Musk has overseen a nearly 23,000% return in his company's shares, through the closing bell on April 14.
Lastly, the addressable markets for space infrastructure and artificial intelligence are among the largest on Wall Street. McKinsey & Company believes the global space economy is a $1.8 trillion opportunity by 2035, while PwC analysts expect AI to create more than $15 trillion in global economic value by 2030.
But what if I told you that Wall Street is missing the biggest SpaceX number of them all?
Wall Street is overlooking an important historical figure
Although history can't predict the future with 100% accuracy, it tends to be correct more often than not.
Since 1999, the U.S. has been privy to a handful of mega-IPOs, including Alibaba Group, Visa, Meta Platforms (formerly Facebook), General Motors, and United Parcel Service. We also witnessed the largest global IPO in history, Saudi Aramco, in December 2019.
But with the exception of Visa, these high-profile companies fell flat on their faces when they ran out of the gate. What follows are their respective returns six months after their IPOs:
Alibaba Group: Down 9%
Visa: Up 23%
Facebook (now Meta): Down 38%
General Motors: Down 8%
UPS: Down 11%
Saudi Aramco: Down 15%
On average, the largest IPOs have lost 10% of their value (when rounded) six months after going public. If history rhymes and SpaceX loses 10% of its value half a year after its debut, it could erase up to $175 billion in market value.
History makes clear that investors consistently overestimate the upside of newly public companies. This is something prospective SpaceX investors need to keep in mind.
Don’t miss this second chance at a potentially lucrative opportunity
Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this.
On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves:
Nvidia: if you invested $1,000 when we doubled down in 2009, you’d have $515,842!*
Apple: if you invested $1,000 when we doubled down in 2008, you’d have $50,733!*
Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $580,872!*
Right now, we’re issuing “Double Down” alerts for three incredible companies, available when you join Stock Advisor, and there may not be another chance like this anytime soon.
*Stock Advisor returns as of April 17, 2026.
Sean Williams has positions in Meta Platforms and Visa. The Motley Fool has positions in and recommends Meta Platforms, Tesla, United Parcel Service, and Visa. The Motley Fool recommends Alibaba Group and General Motors. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This Is the SpaceX Number No One Is Talking About -- and History Says It May Total $175 Billion

Key Points
SpaceX will host its IPO roadshow in early June, putting the company on track to list its share over the summer.
SpaceX is reportedly seeking an initial valuation of $1.75 trillion, which would make it the largest IPO in history.
Stock that go public at large valuations have historically performed very poorly once the IPO excitement has faded.
In early April, SpaceX submitted its initial public offering (IPO) paperwork to the Securities and Exchange Commission. The documents were filed confidentially, which means financial statement are not yet available. Reuters has reported that the rocket and satellite company turned an $8 billion profit on about $16 billion in revenue in 2025, but The Information has reported a $5 billion loss on about $18 billion in revenue.
SpaceX will host its IPO roadshow in early June, where executives will pitch the stock to institutional investors. That puts the company on track to list shares at some point over the summer. SpaceX merged with xAI earlier this year in a deal that valued the combined entity at $1.25 trillion, but the company is reportedly seeking a $1.75 trillion valuation in its IPO.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
If that figure sticks, SpaceX would be the largest IPO in history, and it would immediately become one of the 10 most valuable public companies in the world. But prospective investors may want to stay on the sidelines. History says SpaceX stock could fall sharply during its first year on the market, and it will likely underperform the S&P 500 (SNPINDEX: ^GSPC) in the long run.
Here are the important details.
SpaceX stock could pop on day one, but history says it will underperform the S&P 500 in the long run
Between 1980 and 2025, about 9,300 companies listed on the New York Stock Exchange or Nasdaq Stock Exchange held initial public offerings (IPOs). Those stocks returned an average of 19% on their first trading day, according to Jay Ritter, director of the IPO initiative at the University of Florida.
However, IPO stocks (especially the ones that go public with larger valuations) have often delivered dismal returns once the initial excitement has faded. The chart below lists the 10 largest U.S. IPOs (as measured by the company's initial market value), and it gives the three-month and one-year returns following the listing.
Stock
3-Month Return (Post-IPO)
12-Month Return (Post-IPO)
Alibaba
18%
(30%)
Meta Platforms
(50%)
(31%)
Uber Technologies
(4%)
(21%)
AT&T Wireless
(1%)
(3%)
Rivian Automotive
(36%)
(67%)
DiDi Global
(45%)
(79%)
United Parcel Service
(16%)
(15%)
Coupang
(22%)
(65%)
Enel
(5%)
1%
Arm Holdings
29%
189%
Average
(13%)
(12%)
As shown above, the 10 largest IPO stocks fell by an average of 13% over the three-month period following their public debut, and they declined by an average of 12% during their first year on the market.
Additionally, six of the stocks listed above have underperformed the S&P 500 since going public, as detailed below:
Alibaba is up 36% since its 2014 IPO, trailing the S&P 500 by 200 percentage points.
Uber is up 73% since its 2019 IPO, trailing the S&P 500 by 60 percentage points.
Rivian is down 84% since its 2021 IPO, trailing the S&P 500 by 130 percentage points.
DiDi is down 73% since its 2021 IPO, trailing the S&P 500 by 130 percentage points.
UPS is up 50% since its 1999 IPO, trailing the S&P 500 by 350 percentage points.
Coupang is down 59% since its 2021 IPO, trailing the S&P 500 by 130 percentage points.
What about the others? Meta Platforms, Arm Holdings, and Enel have beat the S&P 500 since their IPOs, and the long-term performance of AT&T Wireless cannot be determined because it was acquired by Cingular (which later changed its name to AT&T Mobility, a wholly owned subsidiary of AT&T).
Here's the big picture: IPO stocks often surge on their first trading day, and the momentum can easily carry into subsequent days. As one of the most highly anticipated IPOs in recent memory, SpaceX shares could skyrocket following its public debut. Nevertheless, large IPO stocks have historically been poor long-term investments. So the most prudent course of action is to stay on the sidelines until an opportunity to buy the dip presents itself.
Should you buy stock in S&P 500 Index right now?
Before you buy stock in S&P 500 Index, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and S&P 500 Index wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $556,335!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,160,572!*
Now, it’s worth noting Stock Advisor’s total average return is 975% — a market-crushing outperformance compared to 193% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 15, 2026.
Trevor Jennewine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Meta Platforms, Uber Technologies, and United Parcel Service. The Motley Fool recommends Alibaba Group and Coupang. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

SpaceX IPO: History Says the Stock Will Do This When It Starts Trading.

Amazon (NASDAQ:AMZN), e-commerce giant and cloud provider, closed Tuesday at $249.02, up 3.81%. The stock moved higher after Amazon agreed to acquire satellite service provider Globalstar (NASDAQ:GSAT) in an $11.6 billion deal. Investors will be watching how this supports Amazon’s “Leo” satellite internet project and AI-driven cloud growth.
Trading volume reached 70 million shares, coming in about 37% above its three-month average of 50.9 million shares. Amazon IPO'd in 1997 and has grown 254,169% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) advanced 1.18% to 6,967, while the Nasdaq Composite (NASDAQINDEX:^IXIC) gained 1.96% to finish at 23,639. Within internet retail, peers saw more moderate gains as Alibaba Group (NYSE:BABA) closed at $131.4, up 2.65%, and MercadoLibre (NASDAQ:MELI) finished at $1,840.66, up 0.48%.
What this means for investors
Amazon will pay $90 per share for Globalstar, representing a more than 50% premium from where Globalstar stock was trading one month ago. Amazon also today announced a deal with Apple (NASDAQ:AAPL) to deliver satellite connectivity for Apple’s phone and watch devices. Apple also has a 20% stake in Globalstar.
Complexities related to that stake and regulatory hurdles are perhaps why Globalstar stock closed well off the acquisition price. Amazon wants the company’s current satellite operations, infrastructure, and assets to help it compete with Elon Musk’s SpaceX in delivering broadband connectivity to user devices on earth.
With a SpaceX IPO coming soon, investors will be digging into the valuation of its Starlink business. Amazon has been proactive with plans to acquire a competitor before that high-profile IPO.
Don’t miss this second chance at a potentially lucrative opportunity
Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this.
On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves:
Nvidia: if you invested $1,000 when we doubled down in 2009, you’d have $491,045!*
Apple: if you invested $1,000 when we doubled down in 2008, you’d have $49,356!*
Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $556,335!*
Right now, we’re issuing “Double Down” alerts for three incredible companies, available when you join Stock Advisor, and there may not be another chance like this anytime soon.
*Stock Advisor returns as of April 14, 2026.
Howard Smith has positions in Amazon and Apple. The Motley Fool has positions in and recommends Amazon, Apple, and MercadoLibre and is short shares of Apple. The Motley Fool recommends Alibaba Group. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stock Market Today, April 14: Amazon Rises After $11.6 Billion Globalstar Deal Fuels Satellite Internet Ambitions

The NASDAQ 100 Pre-Market Indicator is up 70.23 to 25,152.32. The total Pre-Market volume is currently 139,849,884 shares traded.
The following are the most active stocks for the pre-market session:
Nokia Corporation (NOK) is +0.03 at $9.58, with 2,895,975 shares traded., following a 52-week high recorded in prior regular session.
Organon & Co. (OGN) is +0.8853 at $7.80, with 2,502,588 shares traded. OGN's current last sale is 86.61% of the target price of $9.
BP p.l.c. (BP) is -0.0203 at $45.88, with 1,449,791 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2026. The consensus EPS forecast is $0.71. BP's current last sale is 99.74% of the target price of $46.
NIO Inc. (NIO) is +0.1001 at $6.17, with 1,402,181 shares traded. NIO's current last sale is 93.49% of the target price of $6.6.
Alibaba Group Holding Limited (BABA) is +1.14 at $128.82, with 798,768 shares traded. As reported by Zacks, the current mean recommendation for BABA is in the "buy range".
Oracle Corporation (ORCL) is -1.91 at $135.95, with 670,462 shares traded. As reported by Zacks, the current mean recommendation for ORCL is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Alibaba Group Holding Limited

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