Home » , , , » Verizon Report Sends Apple Shares to All-Time High

Verizon Report Sends Apple Shares to All-Time High

Verizon Report Sends Apple Shares to All-Time High
3/30/2010 12:04 PM

Apple shares have hit another all-time high now that it appears the iPhone could find a new sales outlet through Verizon Wireless.

The Wall Street Journal reported that Apple plans to release an iPhone this year that would work on the network technology used by Verizon Wireless. For now the phone is available only to subscribers of AT&T.

Apple and Verizon declined to comment.

Apple shares rose as high as $237.48 on Tuesday before retreating to $235.30, up 1.3% on the day. Apple has jumped about 13% this month.

In the past year, Apple shares have more than doubled.

If Apple opens up its wildly popular gadget to other networks, it stands to gain a massive pool of customers who hesitated to switch to the phone because of reservations about AT&T.

Handsets such as Apple's iPhone may also help Verizon Wireless boost its subscriber and revenue growth, a Jefferies & Co. analyst said Tuesday.

In a client note, Jefferies analyst Jonathan Schildkraut reiterated a "Buy" on Verizon Communications, which operates Verizon Wireless in a joint venture with Britain's Vodafone Group.

Schildkraut said if Verizon could bring its cellphone selection in line with the competition with the iPhone or other devices it would free customers up to choose carriers based on network quality.

"We believe (Verizon) Wireless is currently viewed as the network leader," Schildkraut said.

Along with subscriber growth, Schildkraut said "handset parity" could boost Verizon's average revenue per customer, or ARPU, on data plans that provide services such as Web browsing and e-mail.

(source:usa today) Related Posts with Thumbnails


Post a Comment

Related Posts with Thumbnails

Search This Blog



blogspot visit counter
Mobile Phone Blogs - Blog Catalog Blog Directory Technology Blogs TopOfBlogs Technology Blogs - Blog Rankings