While most seem to have been wondering how long it will take Apple Inc.? stock to hit $1,000, one analyst appears to be more concerned with how long wireless carriers will continue to help keep iPhone prices at $199, according to the Silicon Valley / San Jose Business Journal.
Walter Piecyk of BTIG cut Apple (NASDAQ: AAPL) to hold from buy on Monday even though he expects the company to beat analyst expectations when it reports earnings later this month.
The problem, he thinks, is that wireless carriers such as AT&T? Inc., Verizon and Sprint are unlikely to support frequent iPhone upgrades on $600 iPhones that consumers are paying just $199 for when they sign up for a service plan.
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