AAPL May Spike on China Mobile Deal
It's been a rough week for Apple on Wall Street. With the stock in veritable free-fall since late September, after AAPL touched an all-time high just north of $700, shares of the world's most profitable tech company have plunged some 20%.
But help may be on the way. And China could be the reason, according to the analysts and Wall Street watchers speaking to the Wall Street Journal on Friday. Once the iPhone 5 takes hold on China Mobile, which boasts of some 700 million subscribers, that deal alone could give shares of AAPL an immediate 5% pop or better, experts say.
If China Mobile comes through as planned, the end result could be the addition of $3 to Apple's annual earnings per share. All told, that amounts to approximately $50 in added value to the company's stock.
But China Mobile is just the start of Apple's growing Chinese footprint. "China Telecom Corp. plans to begin offering the iPhone 5 in late November or early December," the WSJ reported this morning, "which would mark the entry of Apple Inc.'s latest smartphone into China."