Verizon Communications Inc. (VZ - Free Report) has announced that its 5G Ultra Wideband network service is live in 18 U.S. cities, the latest being Boston.
The service boasts high throughput, low-latency and enhanced network coverage. It will be mainly focused in areas such as Fenway Park, Emmanuel College, Northeastern University, Simmons College and Harvard Medical School. The telecom behemoth is planning to deploy the service in more than 30 cities by the end of 2019.
A couple of months back, Verizon deployed 5G Ultra Wideband network services in the Mcity Test Facility, which is the world’s first controlled hub, focusing precisely on intelligent transportation and autonomous vehicles. The company has been actively developing various 5G solutions designed to increase pedestrian safety and avoid car accidents, which is likely to have a significant positive impact on smart vehicle technology.
With the 5G race heating up, Verizon is seeking competitive edge in a saturated and price-sensitive market, which includes major players like AT&T Inc. (T - Free Report) and T-Mobile US, Inc. (TMUS - Free Report) . The company’s latest move is directed at upping the ante against rivals. This would enable it to promote the latest 5G breakthroughs to deliver faster data speed and capacity for customers, driven by customer-focused planning, disciplined engineering and constant strategic investments.
With one of the most efficient wireless networks in the United States, Verizon continues to deploy state-of-the-art technologies to deliver increased capacity, lower latency and faster speeds. The network hinges on three fundamental drivers to deliver the full potential of 5G technology. These include massive spectrum holdings, particularly in the millimeter wave bands for faster data transfer, end-to-end deep fiber resources and the ability to deploy large number of small cells, which is likely to strengthen Verizon’s market position and enhance revenues.
Verizon has long-term earnings growth expectation of 4.2%. Driven by healthy traction in the wireless business, the stock has gained 5.9% compared with the industry’s growth of 17% in the year-to-date period.
Verizon currently carries a Zacks Rank #2 (Buy).
Another top-ranked stock in the broader industry is Qualcomm Incorporated (QCOM - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Qualcomm surpassed earnings estimates in each of the trailing four quarters, the average positive surprise being 8.7%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>