Apple's AT&T Bounty: $432 Per iPhone?

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From Silicon Alley Insider

Apple’s iPhones could be far more profitable than we thought. Based on an analysis of iPhone revenue that Apple reported yesterday, Piper Jaffray analyst Gene Munster estimates today that carrier partner AT&T pays Apple $18 per month for each of its iPhone subscribers. Over the course of a two-year contract, that’s $432 — more than three times as much as the $120-per-sub payment we previously estimated. continued….