Apple shares climbed to their highest point in four months Tuesday after British wireless giant Vodafone Group said that it reached a deal...
SAN FRANCISCO — Apple shares climbed to their highest point in four months Tuesday after British wireless giant Vodafone Group said that it reached a deal to sell the iPhone in 10 new international markets.
Before the market opened, Vodafone announced it had signed an agreement to sell the iPhone in Australia, the Czech Republic, Egypt, Greece, India, Italy, New Zealand, Portugal, South Africa and Turkey beginning later this year. No other details were disclosed.
The potential for iPhone growth helped Apple shares to rise $1.93 to $186.66, their highest level since early January.
Analysts that follow the stock were quick to comment on how the Vodafone deal will benefit Apple and help the company to likely exceed its goal of selling 10 million iPhones this year.
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Gene Munster of Piper Jaffray said that the Vodafone announcement “is both sooner and more expansive than we were expecting.” He added that because of the Vodafone partnership, the international rollout of the iPhone is about six months ahead of his previous estimates.
Munster said he now estimates Apple will sell 12.9 million iPhones this year.