Night movers — Jul 15: Apple-Alibaba AI approval powers tech mega-caps as chips reverse
China's approval of Apple Intelligence with Alibaba's Qwen model drove the session's strongest gainer in BABA and powered AAPL higher alongside a reported $30 billion Broadcom supply deal. Semiconductors flipped from yesterday's leaders to today's laggards as INTC, AMD, and LRCX all sold off despite mostly bullish analyst actions, while Progressive's nearly 9.4% plunge lacked a specific supplied catalyst.
Idea
## Session overview China's approval of Apple Intelligence with Alibaba's Qwen model drove the session's strongest gainer in BABA and powered AAPL higher alongside a reported $30 billion Broadcom supply deal. Semiconductors flipped from yesterday's leaders to today's laggards as INTC, AMD, and LRCX all sold off despite mostly bullish analyst actions, while Progressive's nearly 9.4% plunge lacked a specific supplied catalyst. ## Compared with previous session Yesterday's session was dominated by IBM's 25% earnings-warning collapse and a sharp semiconductor rebound led by LRCX, INTC, and NVDA. Today saw those same chip names LRCX and INTC reverse lower, while mega-cap tech AAPL and GOOGL took the baton on China AI approval and Buffett endorsement catalysts. ## Gainers - **BABA +4.78%** — Alibaba's U.S.-listed shares rallied after China's cyberspace regulator approved Apple Intelligence using the Qwen AI model. The regulatory greenlight positions Qwen as a core AI engine inside Apple's China ecosystem, boosting investor confidence in Alibaba's AI platform. - **AAPL +4.01%** — Apple surged on two catalysts: a planned $30 billion supply deal with Broadcom and China's approval of Apple Intelligence powered by Alibaba's Qwen model. The China clearance removes a major overhang on Apple's AI rollout in its largest international market. - **ORCL +3.56%** — A bullish Yahoo Finance article argued Oracle's 60% pullback has made the stock a compelling buy given its AI cloud growth trajectory. Investors seized on the valuation case to send shares sharply higher into the close. - **GOOGL +3.17%** — Warren Buffett told CNBC he personally initiated Berkshire Hathaway's investment in Alphabet, sending shares up over 3%. The endorsement from the world's most famous value investor signaled fundamental confidence in Alphabet's AI and cloud strategy. - **XPEV +3.14%** — XPeng signed a strategic cooperation framework agreement with Autoliv, a major automotive safety supplier. The partnership reinforced XPeng's manufacturing ambitions and added to yesterday's 3.17% momentum. ## Losers - **PGR -9.43%** — Progressive was flagged in CNBC's biggest midday movers column as one of the session's notable decliners. No specific fundamental catalyst was supplied beyond the market-move roundup itself, leaving the nearly 9.4% drop without a clear driver from the provided evidence. - **CSCO -4.54%** — No matching ingested catalyst was found for CSCO. The move is reported without a news attribution. - **INTC -4.43%** — HSBC doubled its price target on Intel and Stifel also raised its PT, yet shares still fell sharply alongside broader semiconductor weakness. A Reuters report on Intel adopting next-generation ASML tools for laptop chips underscored the company's ongoing manufacturing transition costs. - **AMD -3.46%** — UBS highlighted AMD as a likely double with further momentum ahead as its chip business expands, and William Blair initiated coverage with a Market Perform rating. Despite the bullish UBS call, shares declined as the Blair initiation signaled a more measured outlook. - **LRCX -3.08%** — TD Cowen raised its price target on Lam Research and maintained a Buy rating, but shares still fell over 3% alongside a broad semiconductor selloff. The stock's reversal contrasts with yesterday's 4.9% surge, suggesting profit-taking pressures.
What happened since
| Symbol | Dir | T+1 | T+5 | T+20 |
|---|---|---|---|---|
| BABA | NEUTRAL | — | — | — |
| AMD | NEUTRAL | — | — | — |
| AAPL | NEUTRAL | — | — | — |
| INTC | NEUTRAL | — | — | — |
| CSCO | NEUTRAL | — | — | — |
| ORCL | NEUTRAL | — | — | — |
| GOOGL | NEUTRAL | — | — | — |
| LRCX | NEUTRAL | — | — | — |
Price change since publication · updated Jul 15
Key details
Community
News sources
- Stocks making the biggest moves midday: SpaceX, Apple, PayPal, Cava, Progressive, Micron & more — CNBC Top News
- This AI chipmaker is a double in three months. UBS sees more momentum ahead — CNBC Top News
- Apple Plans to Spend $30 Billion in a Deal With Broadcom (AVGO) – Reuters — Yahoo Finance
- William Blair Initiates Advanced Micro Devices (AMD) With Market Perform Rating — Yahoo Finance
- Alibaba’s U.S.-listed shares rise 4% after Qwen AI set to be integrated in Apple Intelligence — CNBC Top News
- Oracle Stock Is Down 60%: Why Its AI Cloud Explosion Makes It a Compelling Buy — Yahoo Finance
- Intel turns to next-generation ASML tool to help make its laptop chips - Reuters — Reuters
- Stifel Raises PT on Intel (INTC) — Yahoo Finance
- XPeng (XPEV) and Autoliv Sign Strategic Cooperation Framework Agreement — Yahoo Finance
- Warren Buffett tells CNBC he initiated Berkshire Hathaway's investment in Alphabet — CNBC Top News
- TD Cowen Raises PT on Lam Research (LRCX), Keeps a Buy — Yahoo Finance
- Here’s Why HSBC Doubled The PT on Intel (INTC) — Yahoo Finance
- Apple Intelligence approved in China with Alibaba Qwen AI model — Yahoo Finance