Alibaba’s (BABA - Free Report) cloud computing arm recently unveiled that nine new partners have joined the EMEA Ecosystem Partner Program.
The new partners include Cloud Temple, Equinix, EVA Group, Groupe Cyllene, GTI Software & Networking, PROJIXI Europe, SKALE-5, SMILE, and Xebia.
In addition, Alibaba Cloud has partnered with French local universities to involve young talents in cloud computing and big data.
This move is inline with its strategy to accelerate companies’ digital transformation.
With the latest move, Alibaba will be able to further enhance customer experience on its cloud platform. This will attract customers to the platform and aid revenue generation. Additionally, the partners can expand presence in China under the “China Gateway” initiative.
The launch of new partners bodes well for Alibaba’s mission of global expansion.
EMEA Ecosystem Partner Program
Last year, Alibaba had unveiled the EMEA Ecosystem Partner Program in an attempt to improve offering in the EMEA region. This program will help the company in supporting the advancement of cloud infrastructure and technologies, talent development, as well as improving marketplaces in this particular region.
It is well poised to bolster presence in the EMEA cloud market driven by its rising popularity and strong initial adoption of the program.
The company aims at providing enhanced cloud services on the back of cutting-edge technology to create a powerful and comprehensive cloud ecosystem. This will aid in strengthening the connection between Alibaba Cloud customers and the regional partners.
All these endeavors will enable the company to deliver business efficiency to customers by assisting them in the adoption of digital transformation.
Alibaba Cloud’s continued efforts toward global expansion are likely to boost the company’s competitive position in the rapidly growing cloud market against the likes of Amazon, Microsoft and Alphabet’s Google.
Per the latest report from Research and Markets, the global cloud infrastructure services market is expected to witness a CAGR of 28.21% between 2018 and 2022.
All these cloud providers are trying to fortify their presence in the emerging countries, where there is a growing need for cloud infrastructure.
In the recently reported quarter, cloud computing revenues were RMB7.7 billion (US$1.2 billion), up 76% from the year-ago period, driven by an increase in average spending per customer.
We believe Alibaba’s strong focus on bolstering the cloud business in the EMEA region will continue to strengthen its competitive position in the market and further drive cloud computing revenues.
Zacks Rank and Stocks to Consider
Currently, Alibaba has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include Facebook, Inc. (FB - Free Report) , IAC/InterActiveCorp (IAC - Free Report) and AXT, Inc. (AXTI - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth for Facebook, IAC/InterActiveCorp and AXT is currently projected at 20.2%, 20.5% and 15%, respectively.
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