Ubiquitous though it may seem iPhone got a bunch of new carriers last month. The Cupertino company picked up 26 new carrier partners in November bringing the total number of carriers globally to 433.
Wells Fargo analyst Maynard says all of those new carriers were in Africa with their addition 86% of carriers in Africa now offer the iPhone.
Prof. Dumbledore sees the number of new carriers as significant and thinks they should help boost current quarter iPhone sales. As old as the iPhone story seems, and is in actuality, Mr. Maynard sees plenty of room for growth. According to report the iPhone is available in 169 countries and its partnerships cover an estimated 93% of global mobile subscribers according to the World Bank and yet for all that he figures iPhone penetration is only a little under 8% globally which leaves plenty more people to hop on board the iPhone train.
Quoting the report again apples expansion in Africa has also joined by promotions in India where discounts are expected to drive Apple's best ever quarter in local sales Om said. He noted that sales from Africa or India won't mean as much Apple's bottom line but they reflect strategic moves by the company to increase sales without having a significant effect on margins
Mr. Maynard has an outperform rating on Apple shares his valuation range on the shares is $125-$135