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AT&T, Inc. Message Board

  • wareham2620 wareham2620 Jul 10, 2008 3:10 PM Flag

    Goldman Sachs

    Jul 07, 2008 AT&T Inc. (T): iPhone enterprise opportunity larger than
    NEWS: According to our GS Tech Hardware team’s latest survey, 17% of 100 IT
    executives surveyed indicated they expect to support the 3G iPhone within the next
    ANALYSIS: iPhone poised to wedge into enterprise: We believe that as a
    representative sample, 17% of respondents indicating an expectation to roll out Apple’s
    iPhone as a supported platform over the next twelve months is a very strong number
    especially at this early stage. In addition, the survey was conducted in mid-June, a
    month before the 3G iPhone launch. We would expect adoption rates to increase once
    the 3G iPhone begins to ship and Apple’s iPhone Software 2.0—which includes
    enterprise friendly sync and security features—moves to general availability in early
    July. iPhone user profile highlights the data opportunity. According to Nielsen surveys,
    82% of iPhone users access the internet over their phone, making them 5 times as likely
    as the average mobile consumer. In addition iPhone users are much more likely to
    watch video, stream music, and play online games. Given that the updated arrangement
    between AT&T and Apple does not include sharing of revenues, we see the potential
    upside for AT&T as enterprise users drive increased adoption at a higher ARPU.
    IMPLICATIONS: Expect enterprise adoption to provide upside in 2009. We see upside
    to subscriber and ARPU metrics in 2009 as enterprises begin to support the iPhone.
    Expansion in the enterprise channel for a key exclusive product such as the iPhone
    further supports our expectation for AT&T’s wireless ARPU to increase 5% in 2009,
    driven by 33% growth in data ARPU.

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