Tim Cook Verizon iPhone press conference  Dan Frommer, Business
Insider  Nomura analyst Stuart Jeffrey has a new note on Apple's
iPhone business that, if true, has serious implications for the
future of the company.   Jeffrey believes Verizon is going to
owe Apple $23.5 billion this year as part of its agreement to
carry the iPhone.   The problem, from Verizon's perspective, is
that it's not going to sell enough iPhones to cover the $23.5
billion bill.   Jeffrey estimates Verizon sold 7.2 million units
in the first half of the year, and will sell 10.8 million in the
second half of the year.   That leaves 19 million units valued
at ~$12 billion unaccounted for.  Verizon would therefore have
to fork over $12 billion, even without revenue coming in from
selling the iPhone.   Jeffrey isn't the only analyst reporting
Verizon may owe Apple billions. Craig Moffett, of Moffett
Research, says essentially the same thing  Jeffrey says that
Apple is going to be left in an interesting position.   Either
Apple can force Ve