“The Street today continues to ponder what a rumored deal for Apple’s (AAPL) iPhone with China Mobile (CHL), the world’s largest cellular operator, might mean for Apple’s bottom line,” Tiernan Ray reports for Barron’s.
“Piper Jaffray’s Gene Munster, who maintains an Overweight rating on Apple stock, and a $640 price target, today reflects on the report Monday night by Fortune’s Philip Elmer-Dewitt that a China Mobile subsidiary posted an advertisement for pre-orders of the iPhone, and subsequently yanked the ad, writes that ‘We believe it is likely that China Mobile launches the iPhone sooner rather than later,'” Ray reports. “Estimates, argues Munster, don’t yet reflect a contribution of as many as 17 million units that Apple could sell in 2014 at China Mobile.”
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