Analysts delighted with Verizon iPhone

“It’s amazing how much there is to say on the Street this afternoon, given the [Verizon iPhone] news has been in the pipeline for months, and today’s announcement offered few surprises,” Tiernan Ray reports for Barron’s. “Be that as it may, the response is largely positive from analysts, with estimates and price targets going up for Apple even though no pricing has been announced for the wireless plans Verizon will offer.”

• Clyde Montevirgen, Standard & Poor’s: Reiterates a Buy rating on Apple. The deal more than doubles Apple’s U.S. market opportunity. He sees incremental unit sales of 7 million through Verizon in this calendar year, to total 65 million for the year; raised his target price to $420 from $375.
• Maynard Um, UBS: Reiterates a Buy rating on Apple and a $365 price target. He thinks it “makes sense” for Apple to go after other CDMA carriers, including Japan’s KDDI and China’s China Unicom.
• Gene Munster, Piper Jaffray: Reiterates an Overweight rating and a $438 price target. The CDMA phone is “the single biggest lever Apple has to pull in calendar 2011,” he believes.

More analyst reactions, and more details for the three above, here.


  1. What was that? “Who is ever going to buy a phone that doesn”t have a hard key keyboard?” ” width=”19″ height=”19″ alt=”smile” style=”border:0;” />

  2. Microsoft CEO Steve Ballmer laughs at Apple iPhone on January 17, 2007

    Interviewer: “Steve let me ask you about the iPhone, and the Zune, if I may. (Ballmer smiles) The Zune was getting some traction, and Steve Jobs goes to MacWorld and he pulls out this iPhone. What was your first reaction when you saw that?”

    Laughter from Ballmer

    Ballmer: “$500! Fully subsidized! With a plan! I said that is the most expensive phone in the world. And it doesn’t appeal to business customers because it doesn’t have a keyboard which makes it not a very good email machine.”

    It never gets old. Enjoy your crow pie, Mr. Ballmer.

  3. Pricing has been announced. Verizon says on its website that you must purchase one of their existing voice and data plans. That means no special iPhone pricing plan, just choose your voice and data option from the existing plans.

    Sheesh, you’d think paid analysts would at least take the time to visit Verizon’s website before putting out advice.

  4. No until you can use Phone and Data at same time, iPhone will be for those who’s contracts are up or those on AT&T that can’t make phone calls anyway. The big surge will come with iPhone 5 and 4G.

  5. > The CDMA phone is “the single biggest lever Apple has to pull in calendar 2011″

    Until iPad 2.0, and then iPhone “5” with new iOS, and then Mac OS X Lion, and then…

    Apple has lots of “levers.” Apple is practically a lever factory.

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