China Mobile must and will happen for Apple. But, your estimate of the pps reaction to the announcement is ridiculous!! The announcement will be a positive catalyst for the stock. I would expect a move up immediately after the announcement of about 3.5%...maybe as much #$%$. The important aspect of an agreement with China Mobile is the longer term growth benefits for Apple in China. If the agreement is combined with a lesser expensive, but still profitable, iPhone for the Chinese market, then growth in China for the next several years will have been secured. That will be a big deal for us longs. In the meantime, I would reel in my expectations if I were you.