Ticonderoga Maintains a 'Buy' on Apple (AAPL); China Telecom's iPhone 4 Survey Highlights Strong Interest, Foreshadows Deal

April 4, 2011 12:55 PM EDT
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Price: $119.97 -0.09%

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Ticonderoga maintains a 'Buy' on Apple (NASDAQ: AAPL), PT $550.

Ticonderoga analyst says, "We continue to closely track Apple's progress in China, and we believe China Telecom is well positioned to ramp a CDMA iPhone this summer. As an incremental data point to China Telecom's appetite to carry the iPhone, we noticed that the Guangdong branch of China Telecom (NYSE: CHA)(NotRated) is conducting an online, Chinese character survey surrounding customer interest in purchasing Apple's CDMA iPhone 4. This survey began on April 1st and will last until May 1st."

"73% of Survey Interested in Buying a China Telecom CDMA iPhone 4. The China Telecom iPhone 4 survey has just three major questions that include the following: 1) If China Telecom offers the CDMA iPhone 4, are you interested in making a purchase?; 2) What kind of data plan do you prefer?; 3) What price range for the iPhone 4 can you afford? As of this morning, 8,290 people participated, with 73% indicating they are interested in buying a CDMA iPhone 4 and 2% indicating no interest, while the remainder were undecided."

Other highlighted points include: 1) China Telecom Overtakes Verizon as Largest CDMA Operator and 2) Apple Well Positioned to Expand Carrier Coverage in China.

For more ratings news on Apple click here and for the rating history of Apple click here.

Shares of Apple closed at $344.56 yesterday.

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