Why Alibaba Stock Closed at a 2-Year High on Wednesday | Global News Avenue

Shares of Alibaba Group (dad) Listed rally in the United States in reports of Chinese technology and e-commerce giants listed in the United States Work with Apple ((AAPL) Create artificial intelligence features for Apple products in China.

information On Tuesday and this Wall Street Journal Apple has submitted a report earlier on Wednesday with Alibaba Approval to Chinese regulators, the process could take several months.

Apple and Alibaba did not immediately respond to requests for comment.

Analysts say China’s AI capabilities partnership and launch can help Apple Sales slow down In China. Upgrade, the key driving force for Apple device sales, More common In regions where AI features are launched, like the United States, transactions can also allow Apple to access the data Alibaba collects through it. E-commerce Products to make AI products more personalized. Bloomberg Report.

Alibaba shares its five-day winning streak

Wednesday was the fifth victory for Alibaba’s listed stocks. Jefferies analysts remove their Price target Starting from $144 on Wednesday, to $150, but the Apple partnership has not been mentioned or taken into account in its research report.

JPMorgan analysts said Tuesday they don’t want it apple To confirm the partnership until the features are ready to be launched, it said the promotion could mark a “significant progress” in Apple in China and help boost sales of iPhone 16, or iPhone 17, the company is expected to be later this year Announce.

Alibaba’s shares rose nearly 5% on Wednesday, closing its highest level in more than two years. The stock has risen more than 60% over the past year. Apple rose 1.8% on Wednesday, up more than 25% in the past 12 months.