Been an Alibaba long since its early days and has weathered ups and downs with it and it hasn't disappoint so far. The growth story is still intact. Now it's being affected by the political uncertainties but on the flip side, it's being undervalued. So perhaps this creates a buying opportunity.

They will say "this time it's different...". But is it really different? Only time will tell. But if time and history are telling the truth, then one can already deduce the answer...

At the end of the day, it's still the fundamentals that command the stock price. 

Interesting that author view R&D as capex. Apple is definitely a mature company but yet amazingly is able to innovate and find new areas of growth, nevermind that they always seems slower to the next 'in' thing.