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Apple bears beware China 3G subs grew 118 from 2011

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iPhone likely to be "a major beneficiary" of the giant market's continued growth, says analyst

FORTUNE -- The skeptics who completely misjudged Apple's iPhone sales in April did so, as predicted, because they forgot about China -- the company's second-largest market after the U.S.

For those analysts who have reduced their iPhone estimates in the past week -- including a couple new ones today -- the note Topeka Capital's Brian White issued MORERead more: Apple bears beware China 3G subs grew 118 from 2011