Alibaba's 618 Shopping Festival Boosts Sales with Big Brands Like Apple, Xiaomi Leading the Way
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 03 2024
0mins
Should l Buy AAPL?
Source: Benzinga
- Alibaba's 618 Shopping Festival: Shows strong momentum with 185 brands achieving over 100 million yuan in gross merchandise value, including Apple, Xiaomi, and Huawei.
- Sales Growth: 37,000 brands doubled their sales compared to the previous year.
- Joe Tsai's Statements: Expressed confidence in Alibaba's goal of double-digit revenue growth by 2027, stable regulatory environment, and consumer willingness to spend.
- Technological Advancements: Highlighted advancements in large language models for generative AI adopted by over 90,000 corporate clients.
- Expansion and Stock Performance: Alibaba expanding global cloud reach, stock lost 8% in the last 12 months; investors can access stock through specific ETFs.
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Analyst Views on AAPL
Wall Street analysts forecast AAPL stock price to rise
32 Analyst Rating
19 Buy
11 Hold
2 Sell
Moderate Buy
Current: 261.730
Low
230.00
Averages
299.69
High
350.00
Current: 261.730
Low
230.00
Averages
299.69
High
350.00
About AAPL
Apple Inc. designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. Its product categories include iPhone, Mac, iPad, and Wearables, Home and Accessories. Its software platforms include iOS, iPadOS, macOS, watchOS, visionOS, and tvOS. Its services include advertising, AppleCare, cloud services, digital content and payment services. The Company operates various platforms, including the App Store, that allow customers to discover and download applications and digital content, such as books, music, video, games and podcasts. It also offers digital content through subscription-based services, including Apple Arcade, Apple Fitness+, Apple Music, Apple News+, and Apple TV+. Its products include iPhone 16 Pro, iPhone 16, iPhone 15, iPhone 14, iPhone SE, MacBook Air, MacBook Pro, iMac, Mac mini, Mac Studio, Mac Pro, iPad Pro, iPad Air, AirPods, AirPods Pro, AirPods Max, Apple TV, Apple Vision Pro and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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