Apple's stock isn't looking all that great right now, but there is hope. A report is suggesting that if Apple manages to pull off a deal with China Mobile, the world's largest mobile network, Apple will add $45 to each share.
RBC Capital Markets analyst Amit Daryanani believes Apple could take 13% of China Mobile's 3G customers, amounting to sales of between 10 million and 16 million iPhones in the first 12 months, writes Apple Insider.
Daryanani expects that Apple will finalise the deal with China Mobile in early 2013. In the meantime, the iPhone 5 will be available from Apple's existing partners in China: China Unicom and China Telecom. In fact, China Telecom will offer the iPhone 5 later this month, according to a Wall Street Journal Report.
RBC has a target of $750 for Apple's stock, currently trading at $542.90.
Apple's smartphone shipments in China in the third quarter grew year-over-year, but were still outpaced by the shipments from local rivals, according to Canalys. Apple ranked sixth, and had a market share of 8 percent, a 1 point drop from the previous quarter.
China Mobile has 667.2 million mobile-phone subscribers, a vast new market for Apple's iPhone. Until now the variety of 3G offered by China Mobile has been incompatible with the iPhone.