“Motorola Inc. was downgraded at Jefferies & Co., which said the world’s second-biggest mobile-phone maker may not be able to sustain its handset market share in the U.S. when Apple Inc. launches its new iPhone in June,” Jeff Kearns reports for Bloomberg.
“Apple’s new iPhone ‘stands out as a new iconic product that could capture a big share of carrier promotional budget in the U.S.,'” Jeffries analysts wrote, Kearns reports.
Jeffries “lowered Motorola’s rating to ‘hold’ from ‘buy,’ [and expects] Motorola shares to reach $20, down from a previous estimate of $27.”
Full article here.
One can only imagine the sinking feelings that executives at Motorola, Nokia, Microsoft, Palm, and many other companies started experiencing during Jobs’ unveiling of the iPhone yesterday.
Related articles:
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Hands-on with Apple’s iPhone – January 10, 2007
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