“RBC Capital’s Amit Daryanani today reiterates an Outperform rating on shares of Apple (AAPL), and a $595 price target, in a note reflecting on rumors the long-awaited deal to carry the iPhone at China Mobile (CHL) is imminent,” Tiernan Ray reports for Barron’s.
“Fortune’s Philip Elmer-DeWitt wrote yesterday that a subsidiary of China Mobile had posted an online offer discussing pre-orders for the iPhone 5S and 5C, with pictures of the devices,” Ray reports. “Daryanani is inclined to believe the advertisement is meaningful: ‘Notably, the pre-order system is not direct but instead allows customers to reserve an appointment. This adds further credence to recent China news sources (Xinhua News) suggesting a Dec-18 launch, in line with China Mobile’s 4G network launch.'”
Ray reports, “China Mobile’s 170 million or so 3G subscribers could ‘add $10B/$3.00 to Apple’s annual financial model,’ he argues, and if it prompts sales during Chinese New Year, which could ‘bolster’ sales.”
Read more in the full article here.
MacDailyNews Take: iPhone? Ha! It’ll never appeal to China Mobile subscribers because it doesn’t have a keyboard, which makes it not a very good email machine. Now, it may sell very well or not… [but] you can get a Motorola Q phone for now for (eyes bugging out) $99!!! It’s a very capable machine. It’ll do music. It’ll do Internet. It’ll do email. It’ll do instant messaging…
Love that quote, MDN!
Hey MDN: Give discredit where it’s due 😉
Just an absolute classic quote. Thanks for posting that response, MDN.
It’s really annoying how these people keep making up numbers when not even one official iPhone is on China Mobile.
What makes it seem even worse is that Apple will increase revenue well past what it made in 2012, did a buyback and increased its dividend and yet that’s only worth a $595 price target and Apple had already been at $705 with less. Google gets an $1100 price target and Apple gets a $595 price target. Rather sad. I’m certain Apple shareholders will get pooched again. I don’t see any hope for a trillion dollar market cap at this rate because it seems as though headwinds are getting increasingly stronger for Apple’s share price to move forward. Apple’s institutional ownership hasn’t budged at all this year. Perpetually stuck at 61%. It needs to get back to around 67%-68%.
“It’s really annoying how these people keep making up numbers when not even one official iPhone is on China Mobile.”
Not sure what you mean by that. When I was in China in 2008, with an original EDGE iPhone, I used China Mobile’s 2G network. Reports have that over 10M iPhones are on China Mobile’s network, just not using CM’s version of 3G which requires a TDSCDMA chipset.
Now Now Grasshopper………..Winds are always strongest just
before entering the leeward side of the island.
Expect bountiful rewards beyond your wildest dreams in the coming year….The year of the Apple Phoenix !
Keyboard! In Chinese?
Uhm, the Chinese use keyboards.
Apple is doomed ™