“Ticonderoga Securities analyst Brian White this morning asks if Apple is getting closer to closing a deal for the iPhone with China Telecom, citing material on NetEase’s Web site last night stating that a branch of China Telecom is accepting pre-orders for the CDMA version of the iPhone 4, and that terms of a deal between the two companies are being worked on,” Tiernan Ray reports for Barron’s.
“White also cites a microblog post in China stating the CDMA iPhone 4 had made its ‘first call in China,’ apparently posted by a China Telecom employee,” Ray reports. “‘The key takeaway,’ writes White, ‘is that the relationship between Apple and China Telecom is clearly moving in the right direction, and we believe that a deal will eventually be announced this year.'”
Ray reports, “White believes all three Chinese cellular carriers are competing to carry the phone…. [and] reiterates a Buy recommendation on Apple and a $550 price target.”
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