Verizon Communications Inc. (VZ - Free Report) continues to lead the industry with its 5G Ultra Wideband service. The telecom giant has expanded coverage of 5G service to 19 new cities, 19 stadiums and six airports. Also, its 5G Nationwide service is available to more than 200 million people in 1,800 cities across the country.
Verizon is set to offer the first Apple (AAPL - Free Report) 5G iPhone and bring new capabilities to customers with its 5G Ultra Wideband and Nationwide networks. Customers will be able to get the new iPhone 12 lineup, including iPhone 12 Pro, iPhone 12 Pro Max, iPhone 12 and iPhone 12 mini.
Built on a millimeter wavelength spectrum, Verizon’s superfast 5G Ultra Wideband helps create unparalleled experiences for consumers and businesses. The service is currently available in parts of 55 cities, 43 stadiums and arenas as well as seven airports. By the end of this year, the company aims to launch 5G Ultra Wideband in more than 60 cities.
Verizon’s 5G Nationwide runs on lower spectrum bands than 5G Ultra Wideband, using a technology called Dynamic Spectrum Sharing. It allows 5G service to operate simultaneously with 4G LTE on the same spectrum band. As such, if customers move beyond the 5G Ultra Wideband coverage, their 5G-capable devices will remain on 5G.
Verizon’s 5G mobility service offers an unmatched experience that impacts industries as diverse as public safety, health care, retail and sports. The company’s disciplined network strategy for long-term growth, along with operational execution, is remarkable.
Verizon is promulgating 5G mobile networks by using virtualized machines, advanced levels of automation and adaptability. As it continues to expand mobile and home coverage across the country, customers will benefit from greater flexibility and faster delivery of services.
Meanwhile, Verizon completed the world’s first end-to-end fully virtualized 5G data session in a live network. This has enabled the company to respond to customers’ latency and computing needs by providing the base for mobile edge computing and network slicing.
The company is well positioned to capitalize on ample growth opportunities while underplaying competition from T-Mobile (TMUS - Free Report) and AT&T (T - Free Report) . Its focus on advancing the network will unlock the full potential of 5G that will connect anything and everything – all for the digital world.
The stock has inched up 4.3% in the past six months compared with 9.8% growth of the industry.
Verizon carries a Zacks Rank #3 (Hold), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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