After having a 10 percent drop in AT&T Inc.’s stock value of this week, Cowen and Co., a financial firm extended its services to help the telecommunications company. They believe that the sales of Apple’s iPhone will act as the major driving force for the up coming year.

The financial firm sent a note to the investors stating that the decline in the stock price of AT&T is “overdone”. They expect that by 2008 AT&T Inc.’s shares would exceed expectations by as much as fifteen percent.

AT&T CEO Randall Stephenson indicated on Tuesday that there were weakened results with regards to the consumer wireline business. This report led to a dramatic drop of the company’s shares on the same day.

Nevertheless, Cowen and Co. is sure that with the net customer additions to AT&t Mobility and Apple Inc.’s iPhone’s sales the company will be able to outperform previous forecasts. The financial firm also reported that based from the increased sales of iPhone in the Q4 of 2007, AT&T had an increased net customer additions from 2.36 million to 2.4 million.

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