Apple Recap: China Debut, Junk Phones, and iOS 7 Demand
Shares of Apple’s (NASDAQ:AAPL) stock picked up some momentum on Thursday, but they did close beneath the stock’s 200-day simple moving average, a move that indicates to many technical analysts that the stock’s major trend has turned down. Still, shares of the iPhone maker closed up $7.62, or 1.64 percent, at $472.30. Here’s a cheat sheet to today’s top Apple stories:
Will Apple’s Early iPhone Debut in China Pay Off?
For the first time, Apple customers in China will have access to the latest iPhones on the same day as consumers in North America, Europe, and Japan. Apple’s iPhone 5C and iPhone 5S will launch in those markets Friday at 8 a.m. local time. This was also the first year that Apple scheduled a separate iPhone premiere event in China, reflecting the market’s increasing importance to the Cupertino, California-based company. Market research firm IDC predicts that smartphone shipments in China will exceed 460 million units by 2017 to reach a market size of $117.8 billion.
Apple’s share of this future market may partly depend on how well its latest devices sell in China over the weekend… (Read more.)