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Verizon (VZ) to Power Private 5G Network in BlackRock HQ

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Verizon Communications Inc. VZ has inked a definitive agreement with BlackRock, Inc. BLK to build a secure private 5G network at the latter’s new global headquarters at 50 Hudson Yards in New York. The contract marks the first commercial implementation of Verizon Business’ On Site 5G private network solution in the United States. This is likely to unfurl a big business opportunity for the carrier.

On Site 5G is a secure, scalable, wireless network that offers a transformative on-premises, private 5G network for business enterprises. This customized solution enables firms 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.

This non-standalone network combines 5G Ultra Wideband small cells with the LTE packet core and radios of On Site LTE network for high security and low latency processes and applications. While maintaining an interconnection facility with the networking infrastructure of the company, it enables authorized remote user access to enterprise applications, thereby protecting the inherent privacy of the on-premises network.

Leveraging AI capabilities and ML techniques for real-time analytics, On Site 5G offers improved network competencies for a dynamic all-in-one solution and a consistent, predictable performance that accelerates digital transformation. This, in turn, enables business enterprises to better adapt to the evolving hybrid workforce requirements and embrace the ‘new normal’. It is interoperable with most existing IT and IoT infrastructure and can support several connected devices, and can even be based on multiple spectrum scenarios.

Verizon will bring this secure network connectivity to BlackRock’s new Hudson Yards facility. This will enable the world’s largest asset manager to utilize applications like virtual reality and edge computing that require nearly instantaneous network response time. BlackRock will use this low latency service across its trading floor, client-facing conference center, auditorium and meeting rooms as it plans to occupy 15 floors of the newly constructed building.

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. Its 5G mobility service offers an unparalleled experience that impacts industries as diverse as public safety, health care, retail and sports. The company continues with the aggressive rollout of the 5G Ultra Wideband service to expand its coverage across the country.

The stock has lost 2.3% over the past year compared with the industry’s decline of 6.4%. Nevertheless, we remain impressed with the inherent growth potential of this Zacks Rank #3 (Hold) stock.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

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 50.7%, on average, in the trailing four quarters. Earnings estimates for the current year for the stock have moved up 102.7% since February 2021. Over the past year, Clearfield has gained a solid 83.3%.

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 58%, on average, in the trailing four quarters.

Over the past year, Sierra Wireless has gained 7.7%. Earnings estimates for the current year for the stock have moved up 68.8% since February 2021. The company continues to launch innovative products for business-critical operations that require high security and optimum 5G performance.


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