“Verizon says the iPhone wave has already crested,” Scott Moritz reports for TheStreet.com.

MacDailyNews Take: Verizon’s obviously got their crystal ball up and running. It’s very early make such a proclamation. Too early, in fact.

Moritz continues, “On an earnings conference call with analysts Monday, Verizon executives said that by the first weeks of July, Verizon saw negative so-called porting rates — meaning more Verizon customers were switching to AT&T than vice versa. But as the month progressed, Verizon said it has seen a shift back to what it calls normal switching rates. ‘We are now seeing two Verizon Wireless customers in for every one we lose,’ says COO Denny Strigl.”

“Industry observers note that AT&T’s iPhone storm hasn’t fully passed. The holiday season will probably be an active time for expensive phone gifts, and the iPhone is likely to be on a few wish lists,” Moritz reports.

Full article here.