AT&T Inc. (T - Free Report) recently announced that as part of its 5G deployment in a dozen cities in 2018, Indianapolis would be its seventh 5G city, adding to the previously announced cities of Atlanta, Charlotte, Dallas, Oklahoma City, Raleigh and Waco. Following the news, its equity price declined 0.8% during the trading session to eventually close at $31.96 on Aug 30.
The telco giant has been laying the foundation for 5G in Indianapolis for some time now as part of its investment strategy to bring the latest in connectivity to people across the country. More so, Indianapolis was a natural choice for the company as one of the 12 introductory 5G cities as it is one of the fastest growing tech hubs in the country and home to a variety of large and small businesses. 5G will likely fuel innovation, boost economic growth and eventually change customer experience and provide new economic opportunities for businesses. The revolutionary technology will also attract economic investment and make the local government more efficient.
AT&T invested nearly $425 million in Indianapolis area in wireless and wired networks during 2015-2017 to enhance reliability, coverage, speed, overall performance for residents and businesses and improve critical services that support public safety and first responders.
In 2017, the company made more than 525 wireless network upgrades in Indianapolis including new cell sites, boosting network capacity and new wireless high-speed Internet connections. It also launched 5G Evolution in the city last year.
In the past year, shares of AT&T have lost 14.7% compared with 2.9% decline for the industry.
AT&T currently carries a Zacks Rank #2 (Buy). Other top-ranked stocks in the industry include United States Cellular Corporation (USM - Free Report) , Windstream Holdings, Inc. (WIN - Free Report) and Aquantia Corp. (AQ - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
United States Cellular has a long-term earnings growth expectation of 1%. It surpassed earnings estimates thrice in the trailing four quarters with an average positive surprise of 303.6%.
Windstream surpassed earnings estimates twice in the trailing four quarters with an average positive surprise of 23.5%.
Aquantia surpassed earnings estimates once in the trailing four quarters with an average positive surprise of 50%.
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