When Apple Inc. (NASDAQ:AAPL) stock took a major hit earlier this year, any thought of the stock hitting $900 in the near future was squashed.
Despite the fact that Apple has rebounded nicely, many investors and analysts are still worried about what the future holds. However, this is not the case across the board. There are some who still believe that the Cupertino based company is about to get back on the right track and excite investors once again.
Apple Inc. (NASDAQ:AAPL) has not been shy about its goal of spending more resources in China. In fact, CEO Tim Cook has said in the past that he believes this country could be the biggest for the company in the years to come.
Brian White of Topeka Capital Markets has taken things a step further. According to a report by Venturebeat.com, White believes that “China’s speedy growth in fast-mobile subscriptions — and increasing mobile competition among the giant Chinese mobile carriers — will be key factors in driving Apple’s moldering stock price to unseen heights of over $800.”
Of course, there is a lot that has to happen if Apple Inc. (NASDAQ:AAPL) has any thoughts of closing in on $900 down the road.
It makes good sense to figure that Cupertino need a cheaper iPhone as a means of increasing growth in emerging markets, such as China.
While some people are not yet convinced that Apple Inc. (NASDAQ:AAPL) will announce a cheaper iPhone, White feels that this is coming during the summer of 2013. In other words, if he is right it will not be long before we hear that Apple is going to offer a cheaper iPhone in emerging markets.
One of the primary benefits of this move would be the ability for Apple to finally settle on a deal with China Mobile. As the biggest wireless carrier in China, with more than 700 million subscribers, this may be just what Apple Inc. (NASDAQ:AAPL) needs to establish itself as the dominant player in the China smartphone market.
With a great focus on China, as well as growth in other countries, White thinks that $700 is doable for Apple Inc. (NASDAQ:AAPL), with his price target of $888 also within sight.
For White to be right, Apple needs to make a few things happen sooner rather than later. Do you see Cupertino rolling out a cheaper iPhone, thus grabbing more market share in China?