Citi Sees Alibaba Gaining From Apple's Choice of Qwen in China
Citi analysts say Apple's selection of Alibaba's Qwen models for Apple Intelligence in China strengthens Alibaba's AI and cloud position. Buy rating maintained.
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what happened
Citi analysts believe Alibaba may benefit from its partnership with Apple. Apple has selected Alibaba's Qwen models to power Apple Intelligence in China, which the bank calls "a meaningful endorsement" of Alibaba's AI technology.
The analysts expect the partnership to generate incremental cloud demand for Alibaba and say it further confirms Qwen's leadership within China's foundation-model landscape. Citi keeps its buy rating and a target price of US$193.00, while the ADRs last traded at US$98.04. Source: Market Talk.
why it matters
For markets, the key channel is cloud revenue, which could get support from new demand. The Citi note reflects the analysts' view rather than a price forecast, and the story also touches on competition in China's AI sector, where Qwen is strengthening its position.
tags
instruments
sources
- Alibaba Likely to Benefit From Partnership With Apple — Market Talk, 2 November 2026 at 02:13 UTC
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