NEW YORK ( TheStreet) -- Apple (AAPL) bulls must have just missed the news out of China. It's difficult to blame them. It hit the wire over the weekend. And, by Monday, nothing was going to kill the high of a $30.90 increase in the price of America's favorite stock.
Leave it to DigiTimes to downplay the news. At the same time, you've got to give them credit for actually running the story in the first place. Few others did.
In case you missed it, backed by Microsoft (MSFT), Nokia (NOK) actually owns a larger chunk of the Chinese smartphone market than Apple -- 7% versus 6%. Google's (GOOG) Android operation system dominates in the country at over 60%. Now, to be fair to both sides (as if it has to be a dichotomous battle between good and evil), imprecision abounds.First, a Microsoft executive broke the news and, as DigiTimes notes , these smartphone market share numbers come from a time period only known as "recently." To get our hands on anything definitive, we'll need the objective monthly and/or quarterly data from a source such as Gartner. That said, let's face the facts. If word came out that Apple, say, sent its CEO over to China to shake hands with politicians or a few Chinese guys got into a scuffle in front of an Apple store, media outlets would trip over one another to report the news. I can't blame them. There's no question that when the company Steve Jobs built and Tim Cook can only hope to sustain does something, it's big news. Frankly, it deserves a bigger headline and wider distribution than when something happens with Nokia or even Microsoft. Still, you might expect more than a handful of folks to report these early, even if imprecise, results out of China. Nokia's Lumia, launched in March with China Telecom, is apparently selling well. But, not so fast. Here's more imprecision from the DigiTimes report: ... some industry sources fear the brisk sales could be short-lived. The strong sales enjoyed by Lumia phones at present are typical short-term results for the newly launched model, and it remains to be seen whether the sales momentum will continue, commented industry sources. Given that sales of iPhones totaled over five million units in China in the first quarter of 2012, it would be difficult for Windows Phone models to yield the same results in a quarter, the sources commented. I didn't think that this type of news would require a reporter to protect his source. Who are these "industry sources?" Apple PR? The DigiTimes intern from South Central Taipei High School? A professor from the University of Cupertino's marketing department? Sounds like a convenient way to toss a wet blanket on what could turn into a meaningful story, assuming it is not already.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV