Good news for Apple bulls: AT&T’s (T) earnings suggest that there may be some upside to iPhone unit sales. T reported Net Income of $3.46 billion (74c per share) on $30.7 billion of revenue, meeting consensus. More on AT&T’s quarter and what it means for Apple here.
AT&T is the iPhone’s exclusive U.S. carrier, and analysts think T has been gobbling up share since it cut the price for the trendy handset. Bloomberg:
The iPhone continues to do fairly well,” said Christopher King, an analyst at Stifel Nicolaus & Co. in Baltimore. “What we’re hearing is that ever since AT&T and Apple cut the price, every single week they’ve been taking market share from Verizon.” King advises holding on to the shares.
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