Updated

Alibaba shares have come under pressure amid a combination of macroeconomic headwinds and intensifying competition from regional rivals such as Coupang, prompting fresh investor debate over which Asian e-commerce giant offers better value heading into 2026. Analysts weighed the two companies' growth trajectories, margins, and exposure to slowing consumer spending in their respective markets. Separate commentary highlighted Alibaba's recent share decline as reflecting both broader macro headwinds facing Chinese equities and company-specific competitive challenges. The mixed signals have left investors divided on the stock's near-term direction.