tech

Alibaba jumps as Macquarie and Jefferies up price targets on AI cloud demand

Alibaba is up about 4% this morning after Macquarie analyst Ellie Jiang raised her price target on the stock to a Street high of $235.60, up from $177.90, and Jefferies analyst Thomas Chong upped his price target to $230 from $178, based on a strong cloud outlook and synergies in its rapid-delivery model of e-commerce. The duo is among a string of analysts lately, including those at Morgan Stanley, Baird, and Bank of America, to raise their price targets on the stock.

The Jefferies analyst cited the company’s “remarkable progress made in multiple areas,” including foundation models, AI infrastructure, and agents. Alibaba also jumped up last week on news of an AI spending hike, a new model launch, and a partnership with Nvidia.

Separately, Bloomberg Intelligence analysts Robert Lea and Jasmine Lyu highlighted the e-commerce and cloud giant as a key beneficiary of Huawei’s reported plan to double output of its top AI chip next year.

“The doubling of production of Huawei’s marque AI accelerator chip in 2026 could help ease the semiconductor bottleneck at Alibaba, Tencent and Baidu,” they wrote.

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tech

Rani Molla9/26/25

Apple has built an app like ChatGPT to test AI Siri

Back in 2024, Apple previewed a new AI Siri that the iPhone maker has since mostly failed to deliver, with the overhaul now slated for the spring of 2026. But Bloomberg’s Mark Gurman says Apple is making moves.

Apple has built an internal ChatGPT-like app to test the new Siri, Bloomberg reports. Workers are using the app, code-named Veritas, to test Siri’s ability to search through personal data like emails and perform in-app actions like editing photos — stuff its competitor Google is already offering.

“The app essentially takes the still-in-progress technology from the new Siri and puts it in a form employees can test out more efficiently,” Gurman wrote. “Even without a public launch, the internal tool marks a new phase in Apple’s preparations for Siri’s overhaul, a high-stakes release that could reshape perceptions of its AI efforts.”

Apple Builds a ChatGPT-Like App to Help Test the Revamped Siri

Apple Builds a ChatGPT-Like App to Help Test the Revamped Siri

“The app essentially takes the still-in-progress technology from the new Siri and puts it in a form employees can test out more efficiently,” Gurman wrote. “Even without a public launch, the internal tool marks a new phase in Apple’s preparations for Siri’s overhaul, a high-stakes release that could reshape perceptions of its AI efforts.”

tech

Rani Molla9/26/25

T-Mobile and Verizon are seeing strong iPhone sales, too

T-Mobile and Verizon are seeing strong demand for the latest iPhone, according to a note today from Bank of America Global Research:

“As per T-Mobile mgmt., iPhone activations are up double digits (new and existing customers). Verizon mgmt. commentary also suggests strong upgrade activity in its existing base during the quarter.”

This is one of several indicators pointing to a strong upgrade cycle for the redesigned iPhone.

Early this month, a survey of iPhone users found that a higher percentage intended to upgrade than did last year. BofA and Wedbush Securities’ Dan Ives have both cited longer shipment times for the latest model than last year, suggesting relatively higher demand. The Information said that Apple asked suppliers to boost production of the iPhone 17 following strong preorder activity. Bloomberg reported long lines and sold-out phones when the devices went on sale last week. BGR noted today that the iPhone 17 and iPhone 17 Pro are still sold out online in the US.

Last week, Sherwood News reported that web traffic to Apple for the iPhone event and for the preorder period were elevated compared with the past few years, though we suggested that might have more to do with a natural upgrade cycle than features on the iPhone 17.

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