“Apple’s blockbuster China Mobile deal will send analysts back to the drawing board, CNBC’s Jim Cramer said Wednesday,” Jeff Morganteen reports for CNBC. “Wall Street has vastly underestimated the distribution deal that opens up the world’s largest wireless market to Apple products at a considerable markup — $874 for each iPhone 5S.”
“Cramer called Apple stock inexpensive, and he likes how Apple hasn’t changed its strategy as it enters the huge Chinese mobile market. The company still plans to charge premium prices for its products, leading Cramer to compare it to luxury auto maker BMW,” Morganteen reports. “‘I do believe a lot of analysts have gotten lukewarm about the China deal,’ Cramer said on Squawk on the Street. ‘This is coming as a kind of a wake-up call to those who have been saying, ‘Listen it’s not that big, it’s not that additive.’ It’s clearly the biggest thing that’s happened to Apple in a very long time.'”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Chris Renaldi” for the heads up.]