Oppenheimer Says AT&T Merger Positive For Apple (T, AAPL)

Oppenheimer & Co. says that the AT&T T T-Mobile merger is a positive for Apple AAPL. In a note to investors, Oppenheimer writes, "Incrementally positive for Apple and MMI. Despite some lost pricing power, we view the possible consolidation as a slight positive for Apple and Motorola Mobility. Apple has no exposure to T-Mobile and Motorola has limited exposure. If the market consolidates around AT&T and Verizon, Apple and MMI would subsequently have better positioning across more of the US market. We don't believe Apple would lose any meaningful leverage against the carriers." Shares of T shares are up 26 cents in pre-market trading to $28.20, a gain of almost 1%.