12:40 PM The Chinese government is expected to issue 4G TD-LTE licenses by year's end, writes Morgan Stanley's Katy Huberty in a bullish note on Apple (AAPL +1.2%). The licenses could pave the way for China Mobile (CHL), which has 700M+ subs and is spending $6.75B this year on its TD-LTE network (still in trial mode), to begin selling the iPhone. One potential roadblock: China Unicom (CHA) and China Telecom (CHA) want the government to take its time in issuing TD-LTE licenses. CHA wants to delay its 4G capex, and both carriers are supporting FDD-LTE standard (far more popular outside of China). (AAPL/CHL agreement) Read comments
AAPL price at time of publication: $464.44. Check AAPL price now »
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