The research note comes after yet another report that Apple is ending its iPhone exclusivity with AT&T (T) and preparing to launch sales of the iconic device at No. 1 mobile shop Verizon early next year.
In a note titled "Plenty of Growth Left," JPMorgan analyst Mark Moskowitz said the Verizon iPhone will boost Apple's earnings 11% annually, or $2 a share. But Moskowitz does not base his financial projections or his $400 price target on the possibility of the iPhone going to Verizon. Instead, Moskowitz is more jazzed about the current strength of iPhone and iPad sales this year.
>>Who Owns Apple?: George SorosThe most recent report from the Wall Street Journal Wednesday calls for a CDMA iPhone using a Qualcomm (QCOM) chip, which should sound familiar to Verizon iPhone observers. The ongoing saga of whether the iPhone will go to Verizon has been one of tech's great debates. Verizon's notoriously uncompromising stance on what devices and services it will support on its network has long be thought to be the barrier to Apple's equally determined approach to control all aspects of its products. Skeptics continue to argue that Verizon, which is enjoying tremendous success with its Google (GOOG) Android phones from Motorola (MOT), HTC and Samsung, will pass on the 3G version of the iPhone and more likely wait for a 4G version later in 2011 or 2012. Asked Thursday for an update on what the company was saying about the Apple iPhone, a Verizon rep said: "Not a thing." Verizon and Apple shares were both up less than 1% in early trading Thursday. --Written by Scott Moritz in New York.
>To contact this writer, click here: Scott Moritz, or email: email@example.com. To follow Scott on Twitter, go to http://twitter.com/TheStreet_Tech. >To send a tip, email: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV