US carriers are unlikely to push back on iPhone subsidies for another 18 to 24 months, at least, says CLSA analyst Avi Silver. He estimates that about $19 billion of Apple's FY2011 revenue came from carrier subsidies, 46 percent of that being derived from US companies. Any lowering of subsidies would therefore have a major impact on Apple's profits, which has led some analysts to be skeptical of or even issue downgrades on Apple stock.
