Alibaba (BABA) Stock Analysis: Buy The Dip?

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Since recently making new all time highs, Alibaba (BABA) has dropped 18% TO $260. There's been a lot of pressure on the stock's price since ANT IPO was suspended and the Chinese government was announced to supposedly crackdown on big tech. But is this all smoke in mirrors? Alibaba recently posted 30% y/oy growth, which is impressive to say the least. The company beat analyst consensus on all revenue fronts and has managed to grow its user base post-Covid. Is this stock a buy on dip opportunity or should it be passed up?

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Thank you to the Alibaba website for the photo of Daniel Zhang