Here are your Apple rumors and AAPL news items for Monday:
Apple to Build $304m Texas Campus: The Times of India reports that Apple (NASDAQ:AAPL) spokesman Steve Dowling recently announced the company’s plans to construct a $304 million campus in Austin, Texas. Bolstered by a $21 million investment from the Texas Enterprise Fund, the facility is expected to open 3,600 new jobs over the course of the next decade. Facility construction was announced in the wake of AAPL’s market value breaking $500 billion — a rare figure only achieved by blue chip titans like Exxon Mobil (NYSE:XOM) and key competitor Microsoft (NASDAQ:MSFT) — and may portend Apple further creating jobs within the continental U.S.
iPhone Falling Behind in China: Bloomberg reports that AAPL’s expansion in China’s smartphone market may quickly cede to Samsung‘s (PINK:SSNLF) pre-existing foothold. China Telecom Inc. began retailing the iPhone last week with hopes of bolstering Apple’s 7.5% share in the country’s smartphone market. However, in partnering solely with China Telecom, Apple has limited its consumer base — as China Telecom’s services are restricted to 34% of the country’s smartphone users. Samsung, on the other hand, is licensed to retail to all of China’s 988 million smartphone users — 655 million of which are excluded from purchasing iPhones due to contract obligation.
Verizon to outshine AT&T in iPad Coverage: Both Verizon (NYSE:VZ) and AT&T (NYSE:T) manage next-gen long-term evolution (LTE) wireless networks — a network capacity the new iPad is uniquely tailored for. However, according to the Washingtong Post, Verizon stands to benefit disproportionately from this partnership- with Verizon projected to cover 3 to 4 million new iPads, while AT&T might not break 2 million new additions to its network. LTE iPad coverage costs up to $45 per month, accruing a new margin of revenue for Verizon; this partnership also might help Verizon emerge as Apple’s most certain Telecom ally.
Adam Patterson is Assistant Editor of InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities. For more from the company, check out our previous Apple Rumors stories.