China Mobile Leak and a Dinner Date Top Thursday's Apple Stories
Shares of Apple (NASDAQ: AAPL) closed nearly one percent higher on Thursday at $486.22—well above its 50 day moving average of $472.85.
Volume was low matching overall market volume and the stock is neither overbought nor oversold. Here are a few of the headlines you may have missed yesterday.
China Mobile Poster Shows iPhones
Chinese site, MyDrivers.com published an image of a leaked poster that China Mobile (NYSE: CHL) will reportedly use to promote the upcoming release of the 5S and 5C. The poster indicates that the 5S will support China Mobile’s 100Mbps 4G LTE network and should launch sometime in November.
China Mobile is the world’s largest carrier with more than 700 million subscribers.
Apple’s China Market Share Expected to Double
According to research firm, IDC, Apple’s market share in China is expected to double as a result of the expected deal with China Mobile that will give more than 700 million people the option of making the iPhone their phone of choice.
In the second quarter, Apple’s China market share was around five percent. IDC expects Apple to ship more than 450 million units in 2014—up from 360 million in 2013.
Apple Ordered to Pay $3.3 Million in Patent Infringement Case
The Tokyo District Court has ordered Apple to pay $3.3 million to a Japanese inventor for infringing on technology on its iPod.
The click wheel was a revolutionary new way of interacting with the device when it debuted in 2004 but Japanese inventor Norihiko Saito had patented the idea in 1998. A series of lawsuits were filed where Saito asked for damages of $1 billion but the judge denied that award. $3.3 million is meaningless for a company that spent $16 billion in the June quarter alone buying back its own stock.
Tim Cook and Carl Icahn Set Their Dinner Date
Apple CEO, Tim Cook and activist investor billionaire, Carl Icahn will meet for—something—on Monday. According to reports, Icahn is a late-night person while Cook prefers mornings so it may be more of a meeting than a meal. But what will they eat and what kind of swanky drinks might they sip? Watch the below video for a discussion on this.
Disclosure: At the time of this writing, Tim Parker was long Apple.
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