Today's iPhone event, not just a big deal for Apple.

The wireless provider is also hoping to benefit from a potential refresh cycle. For more on the Apple event and much more, let's get to our Morgan Brennan at Goldman Sachs Community Copia Conference. Morning, Morgan. Good morning, Carl. And joining me now is John Stanky, the CEO of AT&T. It's great to be here with you. Well, thanks for having me here, Morgan. So you just got off stage. You basically reiterated your guidance for the full year, longer term as well. What drives it? Look, we're having good success not only growing our customer base right now, both in fiber and wireless, and we're growing with the right customers, but we've done a really good job of streamlining the business, so we're managing our expense dynamics pretty well. The combination of those things, getting some decent growth on the top end, and ultimately getting more efficient how we operate the business, drives the kind of cash generation that we need to continue to reinvest in this business. So it's a really good thing. I do want to get into all those reinvestments as well. But first, not too far away from here in Cupertino.

We have an event from Apple later today.

How closely are you watching this new lineup of iPhones? What does it mean for AT&T? Well, it's obviously important to a large portion of our customer base that use those devices. So we do watch it closely. and you know we've obviously worked with Apple for many years as a partner in

distributing their equipment.

I'm not expecting it's going to be anything, what I would call earth shattering or frame breaking.

But every time...

You're not anticipating a super cycle.

I'm not anticipating the infamous super cycle, but who knows, the customer will ultimately decide that.

If they find something compelling in the device that they don't have and they decide that they want to go and reinvest in them, then we'll be ready to do that.

But ultimately, what we care about is we want to make sure that they've got great opportunities to use the right devices on our network and make sure that the network works incredibly well. We're really excited

about some of the work we've been doing to improve our wireless operations and reinvest in a

wireless network. In terms of consumers and wireless subscribers, you've talked about the fact that

maybe the second half of the year is less promotional. What does that mean in terms of the

business for AT&T and what you're

seeing in consumer behavior? Yeah, we've actually viewed that we think the level of dynamics that

are going on in the industry right now competitively probably sustain themselves through the balance

of the year. So I don't know that it's necessarily going to be less promotional. We'll certainly

see, you know, the cycle tick up as we get into the holiday season, as it typically does.

You know, our goal right now is to make sure we can meet the customer where they want to be, and we think we're in a position to do that.

Frankly, our goal and how we're focused on it is we really want customers who want to buy a portfolio services from us,

not just wireless devices, but they want to buy fiber broadband or they want to buy their broadband services from us that we can offer on a fixed basis from our wireless network.

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