Piper Jaffray Said Vodafone's iPhone News is a Positive for Apple (AAPL, VOD)

Piper Jaffray commented on news that Vodafone (NYSE: VOD) announced the availability of Apple's (Nasdaq: APPL) iPhone in 10 countries in 2008.

Piper analyst Gene Munster said this essentially doubles the iPhone's TAM, from 153 million subscribers to 293 million subscribers.

Munster said they believe the deal with Vodafone in these 10 countries is not exclusive, based on the language of Vodafone's press release. He believes a non-exclusive deal would have a positive impact on iPhone units and a negative impact on iPhone revenue share.

Musters believes the news is a net positive for Apple as the stock will likely trade on units for the next year or more --- he said nearly doubling the TAM is a meaningful positive for the iPhone story.

The firm is maintaining their Buy rating and $250 price target on Apple.

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