Verizon Stock Rises Due to iPhone Reports
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Verizon’s stock rose today due to reports that the company will most likely be the next carrier for the iPhone. Verizon is the largest wireless carrier in the United States and rumors concerning its possible future involvement with Apple have been mentioned for some time now.
Verizon’s stock rose the most in four months due to the rumor, reported in the Wall Street Journal. Both Verizon and Apple have declined to comment, so at this point nothing is certain concerning Apple-Verizon rumors.
Verizon could add as many as 3.5 million new contract customers in the first six months of carrying the iPhone, should it decide to do so. There is a lot of demand for the iPhone among Verizon customers, both those who would be upgrading to new phones and those who want iPhones right now but cannot have them because of being on Verizon’s network.
Verizon’s stock rose 78 cents today, closing at $31.23 at 4:00 pm.
Via BusinessWeek, image via Verizon.