UBS telecom analyst John Hodulik has raised his forecast for September quarter Apple (AAPL) iPhone activations at AT&T to 4.5 million from 2.5 million, which would be up from the 3.2 million activated in the June quarter, as reported by “Barron’s” (http://blogs.barrons.com/techtraderdaily/2010/09/07/apple-ubs-bumps-up-outlook-for-sept-qtr-att-activations/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+barrons/techtraderdaily/feed+(BARRONS.com+Blog:+Tech+Trader+Daily).

In response, Hodulik trimmed his third quarter EPS [earnings per share] estimate for AT&T to 55 cents, from 60 cents, to reflect the resultant pressure on the company‚Äôs margins. For all of 2010, he goes to $2.30, from $2.40; for 2011, he now sees $2.45, down from $2.55, notes “Barron’s.”