The partnership with Apple will enable Qwen to reach a stable user base of hundreds of millions through Apple devices, which not only provides a large-scale scenario for Alibaba's AI technology, but accelerates its AI technology penetration into the consumer end, further more increasing Alibaba's leverage to seize market share with competitors.
.The cooperation between Apple and Alibaba is also a self rescue action to solve their respective difficulties. Based on this, the market responded to the news quite positively.
After the news came out, Apple's US share closed up 2.2% on Feb12, Alibaba's Hong Kong share closed up 8.48% on Feb13 , surged 9.2% on Feb14, and narrowed its closing gains to 3.04%, with a market value of around HKD 2.3 trillion.
In fact, the market's sentiment towards Alibaba showed a significant change in January this year. Alibaba's Hong Kong share quickly rose after hitting an annual bottom on January 13 and surged 46% in the following month, surpassing the 25% increase of the Hang Seng Technology Index during the same period, which has signaled the important inflection point for Alibaba.
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