The used-iPhone market could boom as a result of Apple ‘s (AAPL) move to offer its own upgrade plan, and AT&T says it wants a piece of the action. Apple jumped into the mobile phone financing business last week when it rolled out the iPhone 6S, offering plans similar to those of AT&T (T), Verizon Communications (VZ) and T-Mobile US (TMUS). Apple’s lowest-priced, 24-month installment plan starts at $32 per month. After 12 installments, customers
If Apple’s (AAPL) iPhone Upgrade Program catches on, it could make the company’s smartphone business more like an annuity and less dependent on hit new handsets to drive sales, UBS analyst Steven Milunovich said Tuesday. If Apple were priced as an annuity business, the stock could be worth over $200 a share, Milunovich said. He has a price target of 150 on the stock because customer use of the Upgrade Program likely will occur gradually. Investor
Take that Apple (AAPL). Just as some Wall Street analysts fret over Apple’s jump into the mobile phone financing business, AT&T (T) and Verizon Communications bulked up their retail reach through in-store deals with Best Buy (BBY). Apple announced plans to offer its own financing plan for iPhone purchases last week. AT&T has been playing down the threat from Apple’s upgrade program, analysts say, noting that Apple has less than 300 U.S. stores.