Stock Markets July 16, 2026 09:38 AM

Morgan Stanley Flags China Approval of Apple Intelligence as a Major Near-Term Catalyst

Analyst says regulatory sign-off and local AI partnerships could support iPhone demand ahead of Apple’s foldable launch

By Nina Shah
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Morgan Stanley identifies China’s approval for Apple to deploy Apple Intelligence as a pivotal development for the company, citing local technical partnerships with Alibaba and Baidu, strong Chinese consumer interest in smartphone AI, and the timing ahead of a planned foldable iPhone launch this fall as potential drivers of upside to sales and estimates.

Morgan Stanley Flags China Approval of Apple Intelligence as a Major Near-Term Catalyst
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Key Points

  • China’s Cyberspace Administration granted Apple a license to deploy Apple Intelligence in China, with Alibaba and Baidu as technical partners.
  • Alibaba confirmed its Qwen model will power Apple Intelligence across iOS, iPadOS, macOS and visionOS for Chinese users.
  • Morgan Stanley’s survey indicates Chinese consumers prioritize smartphone AI more than those in the U.S. and Western Europe, and interest in foldable devices is highest in China.

Morgan Stanley analyst Erik Woodring described China’s green light for Apple to operate its Apple Intelligence services in the market as a significant catalyst for the iPhone maker, arguing the approval "should level the AI playing field in China" and comes at a critical moment ahead of Apple’s first foldable iPhone launch.

According to reporting cited by Woodring, China’s Cyberspace Administration has issued the necessary license allowing Apple to introduce its AI features on iPhone in mainland China, with Alibaba and Baidu designated as technical partners for the rollout. Alibaba confirmed that its Qwen model will power Apple Intelligence for Chinese users across iOS, iPadOS, macOS and visionOS, the analyst note said.


Why Morgan Stanley views this as important

Morgan Stanley called the regulatory approval a key development for Apple, noting that China is the company’s second-largest market after the United States. The firm’s survey work indicates that consumers in China place relatively greater importance on smartphone AI than consumers in other regions. In particular, Chinese iPhone users ranked access to Apple Intelligence among the top reasons to upgrade their devices, ahead of respondents from the U.S. and Western Europe.

The timing of the approval matters, the note added, because Apple plans to introduce a foldable iPhone this fall. Morgan Stanley’s research found that Chinese iPhone users expressed the strongest interest in purchasing a foldable device. The firm also cited IDC data indicating that China accounted for approximately 50% of global foldable smartphone shipments in 2025.


Sales context and potential upside

Checks conducted by Morgan Stanley suggest that iPhone sell-through in China is tracking at roughly a 10% year-over-year pace year-to-date. The analyst team said that the availability of enhanced AI features on Apple devices in China could help sustain this recent sales momentum, and therefore present upside risk to both Morgan Stanley’s and consensus revenue and unit forecasts.

Woodring’s note emphasizes the combination of regulatory approval, local AI partners, elevated consumer interest in AI features, and the forthcoming foldable product as converging factors that could materially affect Apple’s performance in one of its largest markets.


Impacted sectors

  • Technology hardware - smartphone demand dynamics and product upgrades.
  • Artificial intelligence - local model integration and service deployment.
  • Software and services - platform-level AI features across Apple operating systems.

Risks

  • Regulatory approval is specific to China but future regulatory actions could alter the operating environment for AI services in the country - impacts technology and services sectors.
  • Actual iPhone sell-through could diverge from Morgan Stanley’s checks, which currently show approximately 10% year-over-year growth year-to-date - impacts smartphone hardware and Apple’s revenue estimates.
  • Consumer interest does not guarantee conversion to purchases; even with AI features and a foldable launch, uptake among Chinese buyers may vary - impacts product launch success and supply-chain expectations.

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