Report: Apple doubles iPhone unit orders

"Financial weekly Barron's quotes Seligman fund manager Paul Wick, considered one of the major investment managers in the technology sector, who said simply that someone who is looking for a large technology company, at a cheap price, without having to bet on when the recession will end, should look at Apple (Nasdaq: AAPL). Apple has $31 per share in cash, and generates about another $8-9 per share in cash each year. Additionally, he claims, based on what he says are good sources, Apple has ordered from its Taiwan sub-contractors double the quantity of iPhones for second quarter delivery as it did for the first quarter of this year," Shlomi Cohen reports for Globes Online via Seeking Alpha."If Wick is correct about the increased number of iPhones, then there are apparently increased orders because of an imminent signing by Apple with a Chinese telecommunications company. It’s a potentially giant market for Apple, and rumors have it that China Unicom will be the first to sign, and it will happen quite soon," Cohen reports."Bank of America analyst Scott Craig, who covers Apple, estimates that Apple can capture at least 20% of the smartphone market in China. If the launch in China happens in the middle of the year, he forecasts that by the end of the year Apple will able to sell around 1.5 million iPhones there, 4.6 million in 2010, and he sets a target for 2011 of 5.8 million handsets," Cohen reports.