Telecom & Wireless
Rumors or News? Apple and iPhone for Verizon (VZ, AAPL, T)
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Verizon Communications Inc. (NYSE: VZ) may finally be getting the iPhone from Apple Inc. (NASDAQ: AAPL). The Wall Street Journal is flashing headlines without much detail and we would not that these rumors have been persistent and the rumors have also appeared more times that might be possible to count.
AT&T Inc. (NYSE: T) currently has an lock on the iPhone, and the company has gone as far as saying in recent months that the company won’t have as much dependence upon the beloved iPhone as many think.
The rumor is that a CDMA iPhone is going into mass production this quarter and a CDMA iPhone will start to sell through Verizon in the first quarter.
Verizon shares were down on the day under $32.80, but the stock has popped to above $33.00 so far on the news. Elsewhere, AT&T shares are still lower and the stock is down 1.2% at $28.60 and Apple is just above the flat-line now having popped from about $286.00 to $288.95. Keep in mind that Apple’s highest print ever was at $294.73.
Until we see Ivan Seidenberg issue a press release or hold a press conference that the iPhone is finally arriving for Verizon customers, we will be treating this as just another rumor that will ultimately come true.
JON C. OGG
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