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Apple, T-Mobile Join Hands to Help Small Businesses

Story Highlights

Apple’s partnership with T-Mobile is expected to make life easier for small businesses. The plan’s offerings can be used by small businesses to keep their operations nimble and efficient.

Technology major Apple Inc. (NASDAQ: AAPL) has teamed up with wireless network operator T-Mobile (TMUS) to offer a plan designed specifically for small businesses.

While shares of Apple were up 1.5%, shares of T-Mobile declined by more than 3% during normal trading hours.

The Plan Aims to Simplify Things for Small Businesses

The new plan, named Business Unlimited Ultimate+, brings together Apple Business Essentials with AppleCare+ for Business Essentials. The plan also includes a new iPhone 13 for new lines and 200GB of high-speed hotspot data per month, among other things.

Another notable feature of the plan includes unlimited talk, text, and premium smartphone data on T-Mobile’s fast 5G network.

Small businesses can purchase the plan for $50 per line and add Apple Business Essentials to any T-Mobile business plan for $2.99 per month.

Management’s Commentary

Vice President of Enterprise Product Marketing, Susan Prescott said, “The new Business Unlimited Ultimate+ for iPhone plan from T-Mobile will combine Business Essentials with blazing fast 5G service, a powerful new iPhone 13, and more — making IT even easier for small businesses, so they can do their best work.”

Wall Street’s Take

Both the stocks have received a thumb’s up from the Wall Street community.

Consensus among analysts is a Strong Buy based on 22 Buys and six Holds. The AAPL average price target of $182.12 implies upside potential of 17.2% from current levels. Shares have gained 6.4% over the past year.

Similarly, consensus among analysts is also a Strong Buy for TMUS based on 10 Buys and one Hold. The TMUS average price target of $170.09 implies upside potential of 27.7% from current levels. Shares have declined 8% over the past year.

Investors Remain Upbeat About Apple and T-Mobile Stocks

TipRanks’ Stock Investors tool shows that top investors currently have a Very Positive stance on AAPl. Further, 27.8% of the top portfolios tracked by TipRanks, increased their exposure to AAPL stock over the past 30 days.

Similarly, TipRanks’ Stock Investors tool shows that top investors currently have a Very Positive stance on TMUS. Further, 23% of the top portfolios tracked by TipRanks, increased their exposure to TMUS stock over the past 30 days.

Key Takeaways

With 90% of companies requiring their employees to access an average of five mobile business apps every day, enhanced IT capabilities are essential for businesses. To that end, the coming together of solid corporations like Apple and T-Mobile to cater to the small business segment is expected to help them conduct their operations smoothly.

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