AAPL: iPhone Subsidy Cuts Tricky, Says BMO
Posted on May 18, 2012 at 10:56 AM EDT
BMO Capital’s Keith Bachman this morning reiterates an Outperform rating on shares of Apple (AAPL) and a $695 price target, writing that his conversations with “a large European wireless carrier and a smaller North American carrier” recently suggest to him that lowering subsidies for the iPhone is something the telcos would like to do, but [...]