Wall Street Doesn't Like Verizon-AT&T Competition over iPhone

Over the last five days, as the Verizon iPhone announcement was rumored into reality, Wall Street did not respond enthusiastically. Both AT&T and Verizon shares have fallen more than 5 percent over that time period. What this seems to say is that Wall Street anticipates that the competition between the companies, the subsidies that they have to offer, and the concessions to Apple they will be forced to make may not be great for investors.