Does Verizon Owe Apple Money?
-- Lewis Carroll, Alice in Wonderland
NEW YORK (TheStreet) -- Despite all things Apple
Uncovered in Vodafone's
That's more than double what Verizon purchased last year, according to those filings and Verizon's iPhone sales from its quarterly results. As of right now, Verizon still has $12 billion in purchase requirements for fiscal 2013. Moffett doesn't expect that the telecom giant will simply hand over a check to Apple. Most also don't expect that Apple will ask for the entire $12 billion, and risk losing Verizon's 115 million customers as a result of a few billion in payments.
However, it will be interesting to see how this plays out, since both companies need each other for success, and Apple is not just going to walk away from $12 billion in revenue.
--Written by Chris Ciaccia in New York
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