Although many traders have a history of selling shares of Apple on new product announcements, that could be a different story this week, especially if rumors about Apple's plans for the Asian continent are made clear in the next 48-72 hours.

If, as anticipated, Apple confirms new agreements with carriers China Mobile and NTT DoCoMo to introduce the new iPhone 5S or iPhone 5C to consumers in Japan and China in the coming weeks, shares of Apple could massively explode to the upside, and with good reason.

Expansive carrier deals in two of Asia's most critical markets would expose the iPhone to an estimated 900 million potential new subscribers. Chris Whitmore, an analyst with Deutsche Bank, estimates that Apple's partnerships with China Mobile and NTT DoCoMo will results in at least 30 million additional iPhone sales next year.

Carl Howe, a Yankee Group analyst, even thinks the name of Apple's new iPhone is indicative of the company's major Asian aspirations.

"I think the 'C' stands for 'China,'" Howe says. "I think in many ways, it's not as much a technology announcement this week. It's much more material if they say they're going to get China Mobile to sell the iPhone."

Optimism is so palpable today on the eve of tomorrow's big iPhone reveal that shares of AAPL are trading up $10 to $507.77. as of 2:30 p.m.

Sources: LA Times, Apple Insider