Verizon Unveils 5G Ultra Wideband Network in Los Angeles
Verizon Communications Inc. VZ recently announced that its 5G Ultra Wideband network service has gone live in 19 U.S. cities, the latest being Los Angeles.
Verizon has introduced the network in areas like Downtown, Chinatown, Del Rey and Venice in Los Angeles. The service boasts high throughput, low-latency and enhanced network coverage. It will be mainly focused in areas such as Los Angeles Convention Center, Venice Beach Boardwalk and Grand Park. The telecom behemoth is planning to deploy the service in more than 30 cities by the end of 2019, effectively aiming to add nearly a city each day in the remaining days of the year.
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.
With Internet speeds of up to 940 Mbps, Verizon 5G Ultra Wideband will provide ultra-fast Wi-Fi with unprecedented bandwidth for seamless 4K video streaming, interactive gaming, real-time connectivity, flash loading and uninterrupted video chatting with greatly reduced lag time.
Few days back, Verizon became the first U.S. carrier to deploy the much-acclaimed 5G Ultra Wideband service at Newport News Shipbuilding in Newport News, VA. It had also deployed 5G Ultra Wideband network services in the Mcity Test Facility, which is the world’s first controlled hub, focusing primarily on intelligent transportation and autonomous vehicles. The company has been actively developing various 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 wide availability of 5G Ultra Wideband network service in the United States, 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 giant 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 intensifying 5G race, Verizon is seeking competitive edge in a saturated and price-sensitive market, which includes major players like AT&T Inc. T and T-Mobile US, Inc. TMUS.
Verizon has long-term earnings growth expectation of 3.2%. Driven by healthy momentum in the wireless business, the stock has gained 8.9% compared with the industry’s growth of 17.3% in the year-to-date period.
Verizon currently carries a Zacks Rank #3 (Hold).
Another top-ranked stock in the broader industry is Qualcomm Incorporated QCOM, 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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