“Apple (AAPL) fell 2.45% to $540.67, down $13.58 from its previous close of $554.25, at the close of the trading day on Friday, the first day that customers in China could start to buy iPhones through China Mobile,” Andrew Meola reports for TheStreet.
“The stock had a volume of 13,412,681, slightly above its average of 11,419,200. It hit a high of $552.07 and a low of $539.90 for the day,” Meola reports. “Apple CEO Tim Cook made a special surprise appearance at the opening of a store in Beijing to mark the occasion. Journalist Jahangir Naina posted a series of photos on Flickr to document the iPhone introduction, which shows crowds of customers at China Mobile stores lining up for the product.”
“Cook indicated Wednesday that the company plans to strengthen its ties with China Mobile in order to grow in the world’s largest smartphone market by shipments. The deal, which took six years of negotiations, finally allows Apple to offer its iPhones through all three of the China’s state-run carriers,” Meola reports. “TheStreet Ratings team rates Apple as a ‘buy’ with a ratings score of A+.”
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