Most telecom stocks declined on Thursday amid a downturn in the broader market. Shares of AT&T Inc. fell more than 2 percent, after the prediction on Apple's iPhone sales. AT&T is the exclusive carrier for the iPhone.
Given the global buzz going into the iPhone launch, it is expected that competing U.S. carriers to launch a series of promotions to prevent users from switching to AT&T. Like Verizon, Sprint has increased the marketing of its music phones ahead of the iPhone launch, which is scheduled for June 29.
Given the global buzz going into the iPhone launch, it is expected that competing U.S. carriers to launch a series of promotions to prevent users from switching to AT&T. Like Verizon, Sprint has increased the marketing of its music phones ahead of the iPhone launch, which is scheduled for June 29.
Here is how some key telecom stocks performed Thursday:
AT&T, down 86 cents to $39.52
Sprint Nextel Corp., down 77 cents to $21.85
Verizon Communications Inc., down 33 cents to $42.59
Motorola Inc., down 44 cents to $17.69
Nokia Corp. American Depositary shares, down 55 cents to $27.67
Palm Inc., up 12 cents to $18.08
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