Continuing its lead in promulgating 5G network nationwide, Verizon Communications Inc. VZ recently launched its fifth 5G-enabled device — Inseego Corp.’s INSG MiFi M1000. Markedly, the Inseego MiFi is Verizon’s first business-ready 5G device that combines bandwidth and speed to meet customers’ expectations, with enterprise-grade security for businesses.
The device — available exclusively to Verizon customers — when connected to the company’s 5G Ultra Wideband network, delivers the bandwidth and download speed required for applications such as 4K/8K video streaming, VR/AR, mobile workforce, industrial IoT among others.
The 5G MiFi M1000 facilitates first responders to quickly set up mobile command centers with ultra-fast data speed supporting new public safety applications. Verizon 5G Ultra Wideband service, along with Inseego MiFi 5G is also likely to support telemedicine by enabling real-time interaction between healthcare providers and patients.
Furthermore, the telecom and media giant launched 5G Ultra Wideband mobility service in Saint Paul, MN. The latest addition joins Denver, Chicago, Minneapolis and Providence (in select locations) as the fifth of more than 30 Verizon 5G mobility cities that the company plans to launch in 2019.
In Saint Paul, Verizon consumer and business customers can experience 5G Ultra Wideband service in certain areas of Downtown, Lowertown and West Seventh. When customers go beyond the company’s 5G coverage area, the 5G-enabled devices, including mobile hotspot, will change to its 4G LTE network.
The company has upped the ante against its rivals by launching this avant-garde network. 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.
With one of the most efficient wireless networks in the United States, Verizon continues to deploy the latest technologies to deliver faster peak 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 4.3%. Driven by healthy traction in the wireless business, the stock has rallied 29.4% compared with the industry’s growth of 4.1% in the past two years.
Zacks Rank & Key Picks
Verizon currently has a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the industry are U.S. Cellular Corp. USM, sporting a Zacks Rank #1 (Strong Buy) and T-Mobile US, Inc. TMUS, carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
U.S. Cellular surpassed earnings estimates in each of the trailing four quarters, the average positive surprise being 79.3%.
T-Mobile has long-term earnings growth expectation of 13%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Verizon Communications Inc. (VZ) : Free Stock Analysis Report
T-Mobile US, Inc. (TMUS) : Free Stock Analysis Report
United States Cellular Corporation (USM) : Free Stock Analysis Report
Inseego Corp. (INSG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research