Verizon Communications Inc. (VZ - Free Report) has become the first U.S. carrier to deploy its much-acclaimed 5G Ultra Wideband service at Newport News Shipbuilding (“NNS”) in Newport News, VA.
With the creation of nation’s first 5G shipyard, Verizon has effectively utilized various ways to leverage 5G technology in the transformation of shipbuilding and manufacturing industries. A unit of America’s largest military shipbuilding company, Huntington Ingalls Industries, NNS will be equipped with enhanced network coverage, low-latency data transmission, advanced robotics, AR/VR, real-time analytics and machine learning, thereby reinforcing reliable and secured connectivity with an agile network infrastructure.
In addition, the employees will be encouraged to embrace digital transformation by switching from traditional methods of pen and paper to using 5G compatible smartphones and tablets in the workplace. This will not only empower the workforce to improve productivity but will also pave the path for the application and development of advanced 5G technology in the field of intelligent manufacturing.
The 5G Ultra Wideband 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 numbers of small cells.
Impressively, the telecom juggernaut had launched the world’s first commercial broadband 5G service in select markets in October last year. 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 on intelligent transportation and autonomous vehicles. The company has been actively developing various avant-garde 5G solutions to increase pedestrian safety and avoid car accidents, which is likely to have a significant positive impact on smart vehicle technology.
Markedly, Verizon has systematically invested in 5G technology to gain a foothold in the industry. With its 5G Ultra Wideband network service live in 18 U.S. cities, the company expects to capitalize on the impending 5G boom and outsmart competition. Further, its focus on upgrading 5G network will result in the enhancement of Ultra Wideband speed, network performance and latency. The telecom carrier aims to retain its lead in promulgating next-gen 5G mobile networks nationwide by using virtualized machines, advanced levels of operational automation, flexibility and adaptability.
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 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.
Verizon has long-term earnings growth expectation of 3.2%. Driven by strength in wireless business, the stock has gained 8.8% compared with the industry’s growth of 17.3% in the year-to-date period.
Verizon currently carries a Zacks Rank #3 (Hold).
A 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%.
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