- AT&T likely subsidizes the iPhone to the tune of $400
- If AT&T loses exclusivity (i.e. if Verizon gets the iPhone), the subsidy probably won't change. (Not a revelation to the rest of the world where multiple carriers hasn't changed the subsidy or pricing...)
- iPhone users are 14% of AT&T's wireless customer base.
- iPhone exclusivity with AT&T may terminate at the end of 2010 but only Apple and AT&T know for sure.
Disclosure, he's long on Apple, but short on Marshall, it seems. Anyone really, truly surprised by any of the above?
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