A Sure Shot for a New 52-week High
Apple Inc (AAPL) hit a new 52-week high today, it was really thanks to the stock finally out of the $580 range.
The more time that passes the further Apple gets away from the historic $700 range in Oct 2012. Today Apple had an easy time hitting a new 52-week high of $575. However it couldn't keep the momentum and fell to $567. What can take AAPL to back to $700? A great holiday season can't do it alone. But a deal with China Mobile -- Yes it could in 12 months.
If Apple can land a deal with China Mobile and its 700 million subscribers it could Apple's stock back to the 2012 highs. The latest on that development via the LA Times:
SAN FRANCISCO — Apple may be inching closer to a deal with China Mobile, that nation's largest carrier, to sell the iPhone. But whether it's absolutely final or not remains unclear.
Late Wednesday, the Wall Street Journal said a source had indicated that a deal would be announced Dec. 18 at a China Mobile conference. But Thursday, a Reuters article disputed that, saying talks were ongoing.
"We are still negotiating with Apple, but for now we have nothing new to announce," China Mobile spokeswoman Rainie Lei told Reuters.
It's difficult to tell if Apple's recent surge in share price is all due to the China Mobile speculation or holiday buzz. We all want an iPad Air but not everyone can shell up the minimum $500 for an entry model. At this point if Apple does have the China Mobile up its sleeve the stock will add another 5% overnight. If it does not, expect a decline.
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