The new iPhone 5 is set to make its debut with Sprint Nextel by mid-October. Sprint’s stock recovered from near collapse on the news. In the last year Sprint’s stock prices have been halved and so the news of iPhone 5 sales going through it has enhanced its stock valuation. The question of how this affects the larger tech market will remain to be seen.
Apple and China
Apple may be able to do what Google couldn’t and that is break into the Chinese market. Apple is currently in talks with China Mobile (CHA) and China Telecom (CHL). These carriers would open Apple to the huge Chinese market that increase the companies worth exponentially. Apple is currently trading at 374.35 per share. The deal will also help China Telecom. The company headed, by CEO Wang Xiaochu saw it’s profits rise 8% in the first half and the iPhone should increase them even more.