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Verizon (VZ) Customers Gain From its Aggressive 5G Push

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Verizon Communications Inc. (VZ - Free Report) is leaving no stone unturned to maintain its lead in the 5G race.

The telecom giant recently announced the availability of its 5G Ultra Wideband mobility service in Harrisburg, PA; Athens, GA; Orlando, FL, and Fremont, CA. The game-changing service is currently available in parts of 82 cities.

Verizon’s 5G Home Internet is also available in five more cities — Fremont, CA; Orlando, FL; Pensacola, FL; Sarasota, FL, and Niagara Falls, NY. With the addition, customers in select areas of 57 cities will have access to this service.

Verizon’s investment in 5G Ultra Wideband enables people to experience unparalleled speed on their phones and in homes. The company intends to continue its aggressive push into more locations.

Verizon’s shares have lost 8.9% in the past year compared with the industry’s decline of 3.1%.

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5G Home is an unlimited broadband service with no data caps. It offers a maximum download speed of up to 1 Gbps, with a typical download speed of 300 Mbps.

Customers in the above-mentioned four new 5G Ultra Wideband mobility markets can experience ultra-fast wireless speed. Business customers will have access to the technology that can accelerate their digital transformation.

Verizon’s 5G Ultra Wideband boasts ultra-low lag and throughputs much faster than 4G. This is expected to eventually handle data volumes 100 times larger than 4G LTE networks. The company plans to provide 5G Ultra Wideband service using C-band spectrum to 100 million people by the end of first-quarter 2022.

Verizon’s disciplined network strategy for long-term sustainable growth, along with operational execution, is noteworthy. It is committed to bringing 5G Home Internet service to 50 million households by 2025.

The stock currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader industry are Clearfield, Inc. (CLFD - Free Report) , Juniper Networks, Inc. (JNPR - Free Report) , and Qualcomm, Inc. (QCOM - Free Report) . While Clearfield and Juniper sport a Zacks Rank #1 (Strong Buy), Qualcomm carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Clearfield delivered a trailing four-quarter earnings surprise of 49%, on average.

Juniper pulled off a trailing four-quarter earnings surprise of 7.5%, on average.

Qualcomm delivered a trailing four-quarter earnings surprise of 13.5%, on average.