Apple upgrades will be meaningful but not super cycle, says AT&T CEO John Stankey

Published: Sep 09, 2024 Duration: 00:03:47 Category: News & Politics

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STATES TO HELP FORMER PRESIDENT DONALD TRUMP'S CAMPAIGN. DAVID, I'LL SEND IT BACK TO YOU. >> THANK YOU >>> WELL, IF YOU'RE KEEPING TRACK IT'S DAY TWO OF GOLDMAN SACHS' CONFERENCE IN SAN FRANCISCO. TOP EXECUTIVES JOINING THROUGHOUT THE DAY ONE OF THEM IS AT&T'S CEO JOHN STANKEY, AND HE JOINS US NOW, THIS ON THE HEELS OF APPLE'S NEW iPHONE RELEASE AND HIS COMPANY'S ANNOUNCEMENT OF A FIBER EXPANSION DEAL IT'S GOOD TO SEE YOU BEEN A WHILE SORRY WE'RE NOT TOGETHER IN PERSON BUT THANK YOU FOR BEING HERE >> GOOD MORNING, DAVID THANKS FOR HAVING ME ON. >> MY PLEASURE LET'S START OFF WITH APPLE, BECAUSE, OBVIOUSLY, I WOULD ASSUME, LIKE MANY, WE'VE ONLY SEEN THE RECENT FEATURES VERY QUICKLY, BUT I AM CURIOUS, GIVEN ITS IMPORTANCE TO YOUR COMPANY, WHAT YOUR EXPECTATIONS MAY BE AT THIS EARLY STAGE IN TERMS OF WHAT IT WILL MEAN FOR THE UPGRADE CYCLE FOR APPLE CUSTOMERS? >> WELL, I THINK ULTIMATELY THE CONSUMER IS GOING TO DRIVE THE DECISION MAKING ON WHAT THE UPGRADE CYCLE IS YOU'VE, OBVIOUSLY, BEEN DISCUSSING IT ALL MORNING, HAVING SOME VIEWPOINTS ON WHAT THE PROS AND CONS ARE. MY INTUITION IS THIS IS GOING TO BE WHAT I CALL A MAJOR CYCLE AS WE SEE THE 5G, 4G DYNAMICS AND VOLUMES IT'S GOING TO BE MEANINGFUL, BUT I WOULD BE SURPRISED IF IT HITS THAT LEVEL. I COULD BE WRONG ULTIMATELY THE CONSUMER WILL UNDERSTAND WHAT THEY WANT TO DO WITH IT. MY SENSE IS, FRANKLY, THAT WE'RE READY, EITHER WAY IT GOES. I WAS LOOKING AT THE OFFERS IN OUR INDUSTRY THAT POPPED UP YESTERDAY AFTER THE ANNOUNCEMENT THEY LOOKED SIMILAR TO LAST YEAR, SO I'M NOT EXPECTING THIS THING IS GOING TO GO CRAZY, BUT IF IT DOES WE'LL BE READY TO GO. >> YEAH. I WANT TO ASK YOU ABOUT THAT YOU AND I TALKED A YEAR AGO IN PRESENCE ARE PERSON AT THIS CONFERENCE, APPLE COMING OUT WITH A NEW PHONE THEN. YOU, AT THE TIME, TALKED ABOUT, YOU KNOW, THESE THINGS GET VERY EXPENSIVE AND THE CONSUMER, AT LEAST FROM YOUR VIEWPOINT, I LOOK BACK, MIGHT BE HESITANT THEY KEPT THE PRICE THE SAME I DON'T KNOW IF YOU THINK THAT'S GOING TO IN ANY WAY BRING PEOPLE MORE, YOU KNOW, TO THE FLOOR IN TERMS OF PERHAPS CONSIDERING AN UPGRADE? >> I THINK IT WAS SMART THAT THEY KEPT THE PRICE THE SAME OBVIOUSLY, THEY ARE EXPENSIVE. IT'S A SIGNIFICANT INVESTMENT. BUT THERE'S -- AS WE TALKED ABOUT LAST YEAR I THINK THERE'S OTHER THINGS DRIVING HOW LONG CONSUMERS ARE CHOOSING TO HOLD ON TO THEIR DEVICES. YOU DISCUSSED THE FACT THAT THE CHANGES ARE SOMETIMES A LITTLE BIT MORE INCREMENTAL I THINK SOFTWARE IN THIS CASE OVER TIME IS GOING TO MAKE A BIG DIFFERENCE THE QUESTION IS WHETHER IT'S BIG ENOUGH RIGHT NOW TO DRIVE A HUGE CYCLE. THE OTHER THING THAT WE HAVE IS WE'RE DOING A MUCH BETTER JOB OF MANAGING THE LIFE CYCLE OF THESE DEVICES. WE HAVE INSURANCE PLANS THAT ALLOW PEOPLE TO HOLD ON TO THEM LONGER, REPAIR THEM, USE THEM. THEY'RE MORE DURABLE, MORE STABLE PEOPLE ARE ACCUSTOMED TO DOING THINGS LIKE PROTECTING THEM I THINK THERE'S A CERTAIN DYNAMIC SIMILAR TO MAYBE A LAPTOP OR A PC WHERE PEOPLE ARE EXTENDING THE LIFE CYCLES BECAUSE THE PRODUCT IS BETTER AND MANAGES TO DO THINGS VERY EFFECTIVELY FOR LONGER. >> YEAH. AND IN TERMS OF YOUR COMPETITIVE STANCE IN THE MARKETPLACE IN TERMS OF SUBSIDIES AND, OBVIOUSLY, THINGS THAT MAKE SURE PEOPLE STAY WITH YOU, DO YOU HAVE ANY EXPECTATIONS? >> LOOK, WE'VE BEEN WINNING IN THE MARKET WITH VARIOUS STABLE AND CONSISTENT PLAY, WHICH IS WE TREAT ALL OUR CUSTOMERS EQUALLY. IT DOESN'T MATTER WHERE YOU ARE IN OUR PLAN CONTINUUM, WHERE YOU ARE IN YOUR HISTORY WITH THE COMPANY. IF YOU WANT A NEW DEVICE WE HAVE SOMETHING FOR YOU TO BE ABLE TO DO IF YOU WOULD LIKE TO COME OVER AND WORK ON AMERICA'S LARGEST NETWORK AND BE PART OF THE AT&T FAMILY AND TAKE ADVANTAGE OF OPPORTUNITIES, FOR EXAMPLE, TO BUNDLE FIBER WITH WIRELESS, WHICH IS A NEW DYNAMIC OF ONE OF THE OFFERS WE HAVE IN TH

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