Wells Fargo Securities Sees Lack of Apple News from China Mobile Conference as a Non-Issue - Apple (NASDAQ:AAPL)

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In a report published Wednesday, Wells Fargo Securities analyst Maynard Um reiterated an Outperform rating on

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Apple

(NASDAQ: AAPL).In the report, Wells Fargo Securities noted, “Chairman Xi Guohua notes it is still in talks with AAPL to sell iPhones. According to media reports, Chairman Xi Guohua, speaking at a conference in Guangzhou, said it has no announcements to make on any deal to carry the iPhone and that it is still in discussions with Apple. There had been some speculation that the deal could be announced at this conference. While the missing announcement may be perceived negatively, we see this as a non-issue and believe this is more of an issue of timing and ultimately expect an agreement to be reached.”Apple closed on Tuesday at $550.59.