“Suddenly there’s a hole in the Apple bear thesis so big you can drive a truck (full of iPhone 5s) through it,” Jon Fortt reports for CNBC.
“On Sunday night, Apple announced that it sold two million iPhone 5s over launch weekend in China,” Fortt reports. “Two reasons this is significant: One, it makes Apple bulls like Piper Jaffray’s Gene Munster, who projects that Apple will sell 4 to 5 million iPhones in China in the quarter, look smarter than the bears. And two, combined with the news Friday that Walmart is selling the iPhone 5 in the U.S. for $70 off, it strongly suggests that Tim Cook has worked the kinks out of his supply chain and is managing to deliver a flood of iPhone 5s in a crucial quarter.”
Read more in the full article here.\
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