The game of Apple and Verizon is never-ending. I grow tired of it – but the latest bit of news via barrons.com is below:
Credit Suisse analyst Jonathan Chaplin this morning cut his rating on Verizon (VZ) to Neutral from Outperform, and cut his target on the stock to $30, from $32. His primary reason: a shift in his thinking on when AT&T (T) will lose its exclusive hold on the Apple (AAPL) iPhone in the U.S.
“Our analysis suggests that Apple will eventually sell the device at all carriers; however, there is a much greater probability that AT&T keeps exclusivity for another 12-18 months than investors realize,” he writes. “We think this has profound impacts for Apple, the carriers and the other handset OEMs.”
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Not much to add here…
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