Munster Says Apple/Verizon Deal 'Unlikely'
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Analysts at Piper Jaffray put out a research note this morning considering rumors that Apple (Nasdaq: AAPL) could bring the iPhone to Verizon's (NYSE: VZ) 85.7 million subscribers. The firm believes such a deal would be "unlikely due to technology hurdles and Apple's strong exclusive relationship with AT&T" (NYSE: T).
Piper Jaffray maintains its Buy rating and $180 price target on Apple, and its Neutral rating and $33 price target on Verizon.
Further, the firm believes that AT&T and Apple have already renegotiated their contract for the iPhone through 2010. Famed Apple analyst Gene Munster also added some comments: "While a Verizon
deal would more than double Apple's addressable sub base in the US (adding 85.7m Verizon subs to its 78.2m AT&T sub base), we have seen that US wireless subscribers are willing to switch carriers to get the iPhone."
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