Verizon (VZ) Partners Vuzix to Power AR in Sports & Gaming
Verizon Communications Inc. VZ recently inked a definitive agreement for an undisclosed amount with Vuzix Corporation VUZI to deliver an immersive augmented reality (“AR”) experience in the sports and gaming arena. The first-of-its-kind offering is likely to sow the seeds for future endeavors related to the commercialization of AR technology in various domains.
Headquartered in West Henrietta, NY, Vuzix offers AR wearable displays, smart glasses and computing devices for consumer and enterprise markets across the globe. It holds 243 patents and numerous IP licenses in the Video Eyewear field.
Per the deal, Vuzix will aim to leverage Verizon’s 5G and edge computing technologies for AR experience in its Shield smart glass. The collaboration is the culmination of a proof-of-concept program that was completed earlier this year, which demonstrated the power of Verizon's 5G and edge computing platform on Vuzix smart glasses in terms of improved response time, longer battery life and increased computing capacity.
The super-fast 5G technology and edge computing are critical elements for delivering low latency optimal performance in smart glasses-based applications. Verizon’s 5G Ultra Wideband 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.
With one of the most efficient wireless networks in the United States, Verizon deploys the latest 4G LTE Advanced technologies to deliver faster peak data speeds and capacity for customers, driven by customer-focused planning, disciplined engineering and constant strategic investment. The company remains focused on making necessary capital expenditures due to the expansion of 5G mmWave in new and existing markets, the densification of the 4G LTE wireless network to cater to huge traffic demands across multiple verticals and the continued deployment of the fiber infrastructure. In addition, Verizon is deploying the C-Band 5G network across the country to capitalize on the mid-band spectrum.
Verizon’s 5G mobility service offers an unparalleled experience that impacts industries as diverse as public safety, health care, retail and sports. The company is continuing with the aggressive rollout of the 5G Ultra Wideband service to expand its coverage across the country. It is also offering the best of LTE and 5G Ultrawideband facilities with the launch of On Site 5G — a transformative on-premises, private 5G network — for business enterprises. This customized solution enables firms that were hitherto crippled with coverage gaps, lost connectivity, fractured security, data congestion, and inconsistent service quality to have a dedicated capacity with adequate bandwidth to minimize costly downtime and missed opportunities.
The stock has lost 9.3% over the past year compared with the industry’s decline of 10.7%. Nevertheless, we remain impressed with the inherent growth potential of this Zacks Rank #3 (Hold) stock.
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A better-ranked stock in the broader industry is Clearfield, Inc. CLFD, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Clearfield delivered an earnings surprise of 50.8%, on average, in the trailing four quarters. Earnings estimates for the current year for the stock have moved up 68.2% since January 2021. Over the past year, Clearfield has gained a solid 236.1%.
Sierra Wireless, Inc. SWIR carries a Zacks Rank #2 (Buy). It has a long-term earnings growth expectation of 12.5% and delivered an earnings surprise of 34.2%, on average, in the trailing four quarters.
Over the past year, Sierra Wireless has gained 22.1%. The company continues to launch innovative products for business-critical operations that require high security and optimum 5G performance.
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