Piper Jaffray Says iPhone Coming To More Carriers

Piper Jaffray predicts that with the launch of Apple's AAPL iPhone 5, that the company will add both Sprint and T-Mobile to its stable of carriers, a potential boost for the stock. Says Piper Jaffray, in the report, “In keeping with our thoughts that Apple wants to sell its iPhone through multiple carriers, we expect the iPhone 5 will be made available for sale through both Sprint [NYSE: S} and T-Mobile, as well as through the existing partners AT&T and Verizon. Sprint is likely to benefit the most from being able to offer the iPhone on its network. While T-Mobile also doesn't sell the device today, there are a number of T-Mobile subscribers using jail-broken or unlocked iPhones on the network. In addition, with the pending acquisition of T-Mobile by AT&T, it is generally thought that T-Mobile subscribers would be getting access to the device anyway. The real surprise would be to Sprint customers, and we think an announcement of a Sprint iPhone could be a positive catalyst for the stock. Sprint could benefit from seeing reduced churn, as well as a potential increase in customer additions. The reduced churn would come from customers no longer needing to switch carriers to purchase the top-selling phone, while Sprint could see an uptick in customer additions as the company could potentially be the last remaining U.S. carrier to offer an unlimited data plan for the iPhone.” AAPL and S closed at $354 and $5.42, respectively.