Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Commenting on the meeting with AT&T Inc. (NYSE: T) management, Jefferies’ Mike McCormack said in a report that the focus was on the competitive environment following the Apple Inc. (NASDAQ: AAPL) iPhone 7 promotional offerings and DirecTV integration, among other topics.
The analyst maintained a Buy rating on the company, with a price target of $48, and mentioned the key takeaways from the meeting.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
iPhone 7 Promo
Although management’s major focus was on iPhone 7 promotional offerings, these are expected to be temporary, “as carrier profitability and cash flow remain key to industry health,” analyst McCormack stated.
Although promotion was driving improved volumes, it would result in margin pressures in Q3 and Q4. While AT&T could witness some share loss in Q4, due to the 2G network shutdown, management indicated there was a chance to counter some of this by migrating subscribers to prepaid offerings, and that most of the share loss would likely be from its lower end subscribers.
DirecTV Integration
Management expressed excitement regarding the addition of DirecTV to AT&T’s product portfolio, while reiterating the guidance for positive video adds for the year. The company aims at getting added rights for stacking and multi-platform offerings from its recent programming negotiations.
“Management is also very excited about the pending DirecTV Now/Mobile OTT launch, with plans to target the sizeable pool of cord cutters/nevers with unique multi-platform offerings that will provide a breadth of content not found on any other OTT competitor,” McCormack wrote.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.