apple gets an upgrade from BAML thanks to T-Mobile

The iPhone’s expected launch with T-Mobile is giving some analysts slightly more optimistic expectations about shares of Apple Inc. (NASDAQ:AAPL) this morning. Bank of America Merrill Lynch has just released an updated report on the stock.

There’s speculation that Deutsche Telekom AG (ADR) (PINK:DTEGY) will introduce the iPhone on the T-Mobile network in early December at its Analyst Day. However, while analysts are slightly more positive about Apple Inc. (NASDAQ:AAPL) shares because of this speculation, they do feel that the financial impact of this launch will be limited at this point. They estimate around 4 million iPhones to be sold in the 2013 calendar year. Meanwhile they also remain positive on the product cycle for the iPhone 5 and believe that shares of Apple Inc. (NASDAQ:AAPL) offer “a very attractive balance of growth and value.”

With the addition of T-Mobile to the iPhone’s mobile network offerings, Apple Inc. (NASDAQ:AAPL) now covers about 98 percent of post-paid services and about 75 percent of all mobile services in the U.S.  The tech giant shipped 39 million iPhones in the U.S. and about 125 million units worldwide. The largest mobile carriers in the world that aren’t supporting the iPhone at this point are China Mobile and NTT DoCoMO. Analysts do not believe China Mobile will add the iPhone to its offerings any time in the near future.

Currently analysts at Bank of America Merrill Lynch are maintaining their previous estimates and their Buy rating. They remain positive on the growth potential because of Apple Inc. (NASDAQ:AAPL)’s opportunity to gain market share in large markets. They find the valuation of the stock to be “compelling, particularly based on the upside potential from revenue and earnings growth in the Mac / PC and iPhone segments and from gross margins.”