Verizon Communications Inc. (VZ - Free Report) recently announced it has attained live commercial 4G LTE network speeds of 1.45 gigabits per second (Gbps) in New York in collaboration with Nokia Corporation (NOK - Free Report) and Qualcomm Technologies, Inc., a subsidiary of QUALCOMM Incorporated (QCOM - Free Report) . Notably, these companies used six channel carrier aggregation, a major LTE Advanced technology to reach the high speed.
These companies worked on combining six separate channels of spectrum by utilizing a combination of licensed as well as shared spectrum. Notably, the trial involved the use of four carriers of licence assisted access (LAA) spectrum along with Verizon’s licensed PCS and AWS spectrum. The company’s demonstration in New York utilized Nokia's AirScale base station and a Qualcomm mobile test device with a Snapdragon X24 LTE modem. Further, the demonstration relied on LTE Advanced feature, 256 QAM as well as 4x4 MIMO technologies.
Verizon expects considerable business growth in both its Wireless and Wireline businesses going forward. The company has been aggressively focusing on expansion of its fiber optics networks to support 4G LTE and upcoming 5G wireless standards as well as wireline connections. Moreover, the company has an attractive fundamental outlook based on increasingly favorable growth prospects for its Wireless business and the possibility of improved performance from its Wireline operations. Further, the company is looking forward to capitalize on countless innovative technology solutions being developed in the Internet of Things and telematics ecosystem across multiple industries.
Additionally, the company plans to launch next-generation 5G wireless residential broadband services in U.S. markets going forward. The company is looking at mobile hotspot and home-based fixed wireless for initial deployment of the next-generation 5G wireless networks in the United States.
The Zacks Rank #2 (Buy) stock has returned 11.7% in the past six months compared with the industry’s growth of 6.7%.
Moreover, the company expects healthy improvement in margins on the back of strong FiOS network and strategic services in the Wireline business. In the enterprise and the wholesale business, the company is changing its revenue mix toward newer growth services like cloud, security and professional services. Further, the company’s current focus on online content delivery, mobile video and online advertising should drive growth.
Another Stock to Consider
Another top-ranked stocks in the same space is United States Cellular Corporation (USM - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
United States Cellular surpassed estimates in the trailing four quarters with an average positive earnings surprise of 340.40%.
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