“Shares of Apple are down $11.77, or 2%, at $543.22, extending earlier losses, amidst fallout from a weak outlook last night by supplier Jabil Circuit, and what appears to be a no-show for a much speculated partnership with China Mobile to carry the iPhone,” Tiernan Ray reports for Barron’s.
“Some of the bulls this morning are urging investors to keep the faith,” Ray reports. “BMO Capital Markets’s Keith Bachman, who has an Outperform rating on Apple shares, and a $585 price target, writes this morning that a deal may yet be announced, and a delay is not a bad thing… ‘We continue to believe that both China Mobile and Apple will want phones available for Chinese New Year (January 31).'”
Ray reports, “Wells Fargo’s Maynard Um, who has an Outperform rating on Apple shares, is similarly confident a deal will show up: ‘While the missing announcement may be perceived negatively, we see this as a non-issue and believe this is more of an issue of timing and ultimately expect an agreement to be reached.'”
Read more in the full article here.
It’ll happen. China Mobile just playing hard ball.
Or CM’s 4G network is not ready to Apple’s satisfaction, and Tim is demanding more before signing
DoCoMo caved, so will CM
I fear China Mobile is looking through the rear-view mirror in a Microsoft-like fashion.
They are launching a new network and need players. Further, they have been hemorrhaging subscribers to the other two major carriers. We’ve seen this movie before.
Slow article. Apple jumped back up to $551 by end of day.
Just saying.
Folks – Please take a look at:
http://service.zj.10086.cn/iphone5s/index.jsp?AISSO_LOGIN=true
Key Facts from this site:
– They are outright listing the iPhone 5S on the china mobile site
– They are saying the reservation process takes place from December 18 to December 31st
@Raymond – You are an idiot
Raymond: I downgraded Apple last week from $550 to $510 on the reason China mobile deal not inked . Wall … http://macdailynews.com/2013/12/18/susquehanna-ups-apple-price-target-to-650-on-iphone-5s-strength/
You lost me at the word “China”
Lived there about 6 years.
Yes , keep faith
But don’t keep faith Apple can hold 13.5 + PE if no deal is inked .
It’s called the barter system…China mobile wants to believe Apple needs them….Apple believes China Mobile needs Apple. Who in their right mind are selling AAPL on news that a tough bilingual negotiations deal like this one is not yet finalized? Also, 4G tower growth will take time to hit over 700 million subscribers all over the country of China. Here, we do everything before Christmas…in China, they do everything before the Chinese New Year, so look for an official deal announced by China early January 2014.