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Carriers May Soon Revolt Against The iPhone
Conventional wisdom on Wall Street has it that eventually (and possibly as soon as the end of this year) Apple’s stock price will reach over $1000 a share, largely fueled by the iPhone. But one Wall Street analyst isn’t nearly so optimistic. In fact, BTIG Research analyst Walter Piecyck is downgrading his recommendation on Apple stock from “Buy” to “Neutral…” and his reasons actually make a lot of sense.
“We continue to maintain our view that Apple is the primary beneficiary of an accelerating growth trend in the global adoption of smartphones, considering global penetration of smartphones has not yet even reached 30%,” Piecyk wrote to clients this morning. “However, given
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