Shares Rise for Verizon and Apple over Verizon iPhone Speculation
Due to signs of Verizon possibly gaining the iPhone, Verizon Communications and Apple shares rose on Tuesday according to an article over on Reuters with Apple shares rising 1.5% while Verizon shares rose 2.6%.
AT&T who have had exclusivity over the iconic iPhone since its debut back in 07 saw their stock fall 2.1%, while shares in rival smartphone makers also fell and included Motorola, Palm and Research In Motion.
However, apparently analysts have said that if Apple does bring the iPhone to the Verizon network it would definitely help Apple and Verizon but wouldn’t necessarily hurt AT&T as much as expected.
Chris Larsen, an analyst for Piper Jaffray has stated that a deal for the Verizon iPhone would cost the Big Blue roughly one to two million customers over the next 2 years but added, “I don’t think you’ll see a flood of people leaving AT&T for Verizon.”