The Apple Stories You Missed Wednesday

After an early week surge that sent Apple AAPL up more than five percent, the stock appears to be filling the gap created on Monday. The stock was down 1.55 percent to close at $481.52. It’s still above its 50 day moving average of $471.63 and its 200 DMA at $453.72. Here are a few of the stories you may have missed Wednesday.

Set up your Apple TV by Tapping it With Your iPhone

Sounds pretty fancy doesn’t it? If you have a third generation Apple TV, the setup process for your device is simple if you’re an iPhone user. Enable Bluetooth, tap your Apple TV with your iPhone, and you’re done.

But it’s more than a clever feature. It might be Apple’s first deployment of iBeacon. iBeacon is a more precise way to pinpoint a person’s location than GPS. For example, a store could place iBeacons in target places to show users how to find certain products or sales. For now, it’s more of a techy fascination than a consumer-ready technology but expect that to change rapidly.

Related: Don’t Miss These Five Apple Stories From Wednesday

Impressive Margins for its New Phones

Do you wonder how much Apple makes on its phones? The company has been criticized because of dwindling margins but at more than 30 percent overall, its not an issue—especially for a tech company. The 16MB iPhone 5S has a bill of materials of about $173 but sells for $549 without a contract. The 16MB iPhone 5S has a bill of materials of $199 and sells for $649.

This does not include manufacturing costs or other overhead expenses but if you’re wondering why Apple didn’t drop it’s prices south of $300 like many analysts expected, the answer, at least at this point would be, why should it?

Apple’s Market Share to Double in China Next Year

Research firm, IDC, expects Apple’s market share in China to double year over year in 2014. This will come primarily from a not-yet-announced deal with China Mobile CHL and the expected popularity of its lower-priced iPhone 5C. While impressive, Apple’s current market share is only five percent putting it in sixth place behind rivals like Samsung SSNLF and Lenovo.

Investors were disappointed when there was no mention of a China Mobile deal during the company’s unveiling of its new phones in what was the first time it had held a launch event in China. Analysts like Gene Munster believe that the deal will be in place by the end of the calendar year.

Disclosure: At the time of this writing, Tim Parker was long Apple.