Cramer's 'Mad Money' Recap: iPhone's Toll on Verizon
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Ivan Seidenberg, the CEO of Verizon (VZ) is money, Jim Cramer told viewers of his "Mad Money" TV show Tuesday.
Seidenberg should take Verizon even higher and deserves the benefit of the doubt, he said. That said, Cramer welcomed Seidenberg to the show and asked him if he expects the demand for the iPhone to cause customers to leave Verizon and go to rival AT&T (T).The iPhone is going to create a lot of buzz and add "sizzle" to the industry, Seidenberg said. He believes that people will go to Apple (AAPL) and AT&T stores and then compare the product with what Verizon has to offer. Seidenberg pointed out that, in addition to having "the most advanced network," Verizon has a range of new products coming out, such as handsets -- some of which will be able to handle music downloads -- and mobile TV devices.
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