Although AT&T leaders have responded with bravado to questions of how Verizon might upset the carrier’s exclusive iPhone apple cart, Wall Street apparently isn’t so care-free. AT&T could lose up to 40 percent of iPhone subscribers when Verizon starts selling the handset, one analyst warned Monday.
Up to 6 million of AT&T’s 15 million iPhone customers could leave for Verizon, Davenport & Co. analyst F. Drake Johnstone told investors. Attempts to bar the door – such as hiking the early termination fee for smart phone owners from $175 to $325 – is the first signal “AT&T is clearly worried that it will lose customers once a competing carrier such as Verizon begins carrying the iPhone,” Johnstone said.