iPhone addition predicted to boost RadioShack profits
Credit Suisse on Monday updated its rating on RadioShack stock from neutral to outperform, citing the addition of the iPhone to the electronics retailer's product lineup. It has set a price target of $25, up from the previous $15. A number of other firms, including Goldman Sachs, Morgan Stanley and Barclays Capital, also upped their ratings, according to Barron's.
RadioShack announced last week that it will offer the iPhone 3G and iPhone 3GS in a few select stores in November, with the program expanding elsewhere in 2010.
"As part of its ongoing mobility strategy, RadioShack is pleased to announce that it will introduce Apple's iPhone 3G and iPhone 3GS in a limited number of company-owned stores in the Dallas-Fort Worth and New York City metropolitan areas beginning later this month," the company said. "RadioShack expects to introduce iPhone in stores nationwide in 2010."
RadioShack will join Walmart and Best Buy — along with Apple and AT&T stores — in selling the smartphone. Best Buy began offering Apple's handset in 2008, and Walmart joined the fray later that year.
Agreements with RadioShack are not new for Apple. In 2005, the retailer reached a deal to add Apple's full line of iPods to its stores.
25 Comments
Well at least that will be one thing one could buy from RS that would still be working a week later
I have always wondered what mysterious power Radio Shack has to sell this stuff. I hate it there, but have a bud that swears buy them.
And wondering why the stock would shoot up that much for such a limited release.
And AT&T keeps benefitting the most.
RadioShack will begin selling the iPhone at its U.S. stores nationwide in 2010.
There's a Shack for that......
AHH HAAA !!
its coming folks so watch out
apple will open up the iphone to all carriers
We might even see MVNO rolled out .
R S is extremely trusted out there . maybe it will sell under a R S brand carrier /NANO PHONE
beep
beepbeeeeep steve pick up his phone ......