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Verizon (VZ) to Roll Out 5G Business Internet in More Cities

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Verizon Communications Inc. (VZ - Free Report) has announced the expansion of its 5G Business Internet service to 21 more U.S. cities this month, bringing the tally to 24. The wireless carrier has already launched this service in parts of Chicago, Houston and Los Angeles for businesses of all sizes.

Also known as fixed wireless Internet access, 5G Business Internet is an alternative to cable that runs on Verizon’s 5G Ultra Wideband technology. Using the millimeter wave spectrum, the 5G Ultra Wideband network has throughputs that are much faster than 4G.

Verizon has a 10-year price lock for new customers, offering plans that range from 100 Mbps to 400 Mbps with no data limits. It will continue to roll out 5G Business Internet in additional cities throughout the country.

Two types of equipment are needed for the 5G Business Internet service — an outdoor 5G receiver and an enterprise-grade router. With this launch, businesses will be able to leverage technologies like edge computing and use IoT devices in innovative ways for efficiency.

Also, businesses need high-powered connectivity quickly for campus expansions. New locations with qualifying coverage can use Verizon’s 5G Business Internet to simplify Internet setup.

Verizon has built its 5G Ultra Wideband network to enable innovations that will support the changing behavior of customers. Its 5G mobility service provides an exceptional experience that impacts industries as diverse as public safety, healthcare, retail and sports.

The company is well positioned to capitalize on ample growth opportunities in a competitive market, with rivals like T-Mobile (TMUS - Free Report) , AT&T (T - Free Report) and U.S. Cellular (USM - Free Report) . It aims to retain the lead in promulgating 5G mobile networks nationwide by using virtualized machines and advanced levels of operational automation.

Verizon’s shares have moved up 0.7% in the past six months compared with 8.4% growth of the industry.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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