One in Four iPhone Users Would Dump AT&T for Verizon, Analyst Says
bySep 21st 2010 4:55PM
Almost one in four users of Apple's (AAPL) iPhone would switch to Verizon Communications (VZ) from AT&T (T) as their cell phone carrier once AT&T's exclusive agreement with the iPhone expires, Information Week reported Tuesday, citing an analyst note from Credit Suisse Group (CS) analyst Jonathan Chaplin.
About 23% of iPhone users in a Credit Suisse poll would switch to Verizon, with 3% of those users willing to do so even if they had to pay a termination fee, the publication said.
Chaplin still increased his price target for AT&T to $35 a share from $27 because the of projections that company's profit will increase 12% next year even if new subscription growth flattens out.
AT&T subscriptions for the first six months of the year rose to about 24 million, and about a third of its new customers since the beginning of last year were iPhone accounts, Information Week said, citing Credit Suisse's Chaplin.