Alibaba's Qwen App Sees 120M Orders Amid Lunar New Year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 02 2026
0mins
Should l Buy BABA?
Source: aastocks
Alibaba Group Holding Ltd's stock is down 3.07% in pre-market trading, hitting a 20-day low.
The decline comes despite the recent success of Alibaba's Qwen app, which generated over 120 million orders from February 6 to 11, showcasing strong consumer demand during the Lunar New Year. This surge in orders is attributed to the integration of various services within the app, enhancing user experience and driving sales. However, the overall market sentiment remains weak, with the Nasdaq-100 down 0.39% and the S&P 500 down 0.29%, indicating a sector rotation impacting Alibaba's stock performance.
The impressive order numbers reflect Alibaba's strategic initiatives to boost user engagement and sales, particularly during a peak shopping season. However, the stock's decline highlights the challenges posed by broader market conditions and intensified competition in the tech sector.
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Analyst Views on BABA
Wall Street analysts forecast BABA stock price to rise
15 Analyst Rating
15 Buy
0 Hold
0 Sell
Strong Buy
Current: 155.730
Low
180.00
Averages
203.09
High
230.00
Current: 155.730
Low
180.00
Averages
203.09
High
230.00
About BABA
Alibaba Group Holding Ltd is an investment holding company mainly engaged in the provision of technology infrastructure and marketing platforms. The Company operates its business through nine segments. The China Commerce Retail segment is engaged in the China commerce retail business. The China Commerce Wholesale segment is mainly engaged in the operation of 1688.com. The Cloud Intelligence segment provides cloud services. The International Commerce Retail segment provides customer management services, sales of goods and logistics services. The International Commerce Wholesale segment is mainly engaged in the operation of Alibaba.com. The Cainiao Represents Logistics Services segment provides fulfilment services. The Local Services segment’s revenue includes platform commissions, logistics services revenue. The Digital Media and Entertainment segment engages in the operation of Youku and Alibaba. The All Others segment is mainly engaged in the Sun Art, Freshippo and other business.
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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