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Verizon Brings 5G Service to San Diego, Momentum to Continue

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Yesterday, Verizon Communications Inc. (VZ - Free Report) announced that San Diego is the 35th city to have its 5G Ultra Wideband mobility service. The New York-based telecom giant’s service, which involves high speed, low latency and expanded coverage, is available with 5G-enabled devices. With industry-leading wireless products and services, the company is well positioned to benefit from accelerated 5G launch in the United States. The 5G Ultra Wideband network uses a millimeter-wave spectrum and is designed to provide customers significantly faster download speed and greater bandwidth compared with 4G.

Verizon’s 5G mobility service offers an unmatched experience that impacts industries as diverse as public safety, health care, retail and sports. The company’s 5G network hinges on three fundamental drivers to deliver the full potential of next-generation wireless 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 a large number of small cells.

Verizon is well placed to capitalize on ample growth opportunities, while underplaying competition. Its focus on upgrading the network will enhance speed and performance for better customer service. The company aims to retain its lead in promulgating 5G mobile networks nationwide by using virtualized machines, advanced levels of operational automation and adaptability.

In San Diego, the service is initially available in parts of Mission Valley near Westfield Mission Valley and SDCCU Stadium, Linda Vista along Linda Vista Road, Kensington near El Cajon Blvd and in Banker’s Hill on 1st Avenue. If customers move outside Verizon’s 5G Ultra Wideband coverage area, the 5G-enabled device transitions to a 4G LTE network. As Verizon continues to expand mobile and home coverage across the country, it will work with leading technology partners to advance the 5G ecosystem and bring unparalleled experience to customers.

At the end of January, three cities went live with Verizon 5G Ultra Wideband service — Little Rock, AR; Kansas City, MO and Cincinnati, OH. These cities joined the list of 31 5G Ultra Wideband cities launched in 2019. With the race to 5G intensifying, Verizon has been seeking a competitive edge in a saturated and price-sensitive market, which includes arch-rivals like AT&T (T - Free Report) , T-Mobile (TMUS - Free Report) and U.S. Cellular (USM - Free Report) .

Backed by investments in 5G and Fiber strategies, Verizon’s shares have gained 14.7% compared with 7.5% growth of the industry in the past two years. The company topped earnings estimates thrice in the last four quarters and missed the same in the remaining quarter. It has a trailing four-quarter positive earnings surprise of 1.2%, on average.

Verizon currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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