check the detail on NXTL.....they continue to cut back on capx....so tower expansion seems deferrable/not mission critical....sub growth seems to be okay even as they slow capx. So that's not great news for tower cos.....also NXTL is not the biggest tenant as SBAC...maybe at SITE. cheers,kash
You're dancing around the issue. Tower expansion pretty much has ended. It is co-location on existing towers that will drive these stocks upward. The subscriber growth will drive the need for space on existing towers within the already built out networks. The reductions in capex are a result of slower new expansion to unserved areas, not a big drop in the need to improve service in existing ones.