Alibaba (BABA) shares rose 6% after Apple (AAPL) said Apple Intelligence will launch in China in December, built on Alibaba's Qwen model, while JD.com (JD) and PDD Holdings (PDD) also gained on reports that Chinese regulators met with banks and brokerages to support the market. The deal gives Qwen access to Chinese iPhone users at very low cost, while Alibaba's AI Labs and Applications segment lost RMB 13.9 billion (adjusted EBITA) in the June quarter, partly from marketing the Qwen app. Alibaba also posted a free cash flow outflow of RMB 44.7 billion in the June quarter, and the article argues the company still needs to show its AI spending can pay off. Apple's Greater China sales rose 30% to $64.8 billion in the nine months to June 27, without Apple Intelligence. JD.com and PDD traded at 7.1x and 6.9x forward earnings, but their growth is weak: JD's revenue fell 2.9% in the June quarter, while PDD's online marketing revenue grew 3%.
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AAPLChinaartificial intelligenceAlibaba
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Related tickers and likely impact
AAPL
▲ Likely positiveApple Inc.
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.1T |
| Close on 10/30/2026 | 344.79 |
| Change that session | -1.18% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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