What's Going On With Alibaba Stock Tuesday?
Portfolio Pulse from Anusuya Lahiri
Alibaba's stock is trading higher amid reports of Apple's new iPhone 15 series being available for steep discounts on Chinese e-commerce websites for the Double 11 online sales event. The discounts are seen as Apple's competition against Huawei's Mate 60 Pro 5G handset. The iPhone 15 and 15 Plus were available for cheaper than their official retail prices on Alibaba's Taobao platform. Meanwhile, sales of the iPhone 15 series in China were down 4.5% compared to the iPhone 14, reflecting a broader decline in consumer spending.
October 24, 2023 | 2:47 pm
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NEGATIVE IMPACT
Apple's new iPhone 15 series is available at steep discounts on Alibaba's platform, but sales of the iPhone 15 series in China were down 4.5% compared to the iPhone 14.
While the discounts on Apple's new iPhone 15 series on Alibaba's platform could potentially increase its sales, the overall decline in sales of the iPhone 15 series in China could negatively impact Apple's revenues and its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The basic 128-gigabyte iPhone 15 was available for less than its retail price on PDD Holdings' Pinduoduo.
The news of the iPhone 15 being available for less than its retail price on PDD Holdings' Pinduoduo could potentially attract more customers to Pinduoduo, but it's unclear how this will impact PDD Holdings' stock price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Alibaba's stock is trading higher due to the discounts on Apple's new iPhone 15 series on its platform for the Double 11 sales event.
The news of Apple's new iPhone 15 series being available at steep discounts on Alibaba's platform for the Double 11 sales event is likely to attract more customers to Alibaba's platform, potentially increasing its revenues and positively impacting its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100