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AAPL Stock Takes a Hit as China Mobile Fails to Announce an iPhone Deal

AAPL Stock Takes a Hit as China Mobile Fails to Announce an iPhone Deal

AAPL stock has taken a hit this morning as China Mobile failed to make the expected announcement of an iPhone launch on its network. While the announcement has been widely anticipated, China Mobile chairman Xi Guohua specifically told assembled reporters that there was no iPhone announcement to make. At the time of this article, AAPL stock was -1.74%, trading at 545.41.

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9to5Mac:

…China Mobile had said it would launch “a new brand” today and the WSJ seemed confident last month that today was the day.

While neither China Mobile or Apple had ever officially confirmed today as the launch date, many observers felt that all the indications were there.

The Chinese government had confirmed today as the day China Mobile’s 4G service would begin, and the company itself said it would have “a new brand” to launch today.

Other indicators have included leaked posters, in-store displays, and even a pre-order website.

As this story continues to develop, we’ll keep you in the loop on any future happenings.

Also, AppleInsider reports that Apple’s stock price could be taking a bit of a hit from a supplier’s disappointing earnings report: “…Jabil Circuit, which makes moldings and metal for Apple’s iPhones, provided much weaker than expected guidance for its second quarter. That led Citigroup analyst Glen Yeung to speculate that Jabil’s poor guidance could reflect negatively on Apple’s forthcoming March quarter.”

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