Verizon Stock Fell despite the Fastest 5G Countrywide Launch Ahead of Time

Verizon Stock

Verizon Stock (NYSE:VZ)

Verizon (NYSE:VZ) reports that its deployment of C-band wireless airwaves is well ahead of schedule. The company expects to sell its primary 5G wireless service throughout the country in the first quarter. Despite that, Verizon stock surged in the market.

The carrier achieved its objective of reaching 175 million people in 2022, one month earlier than the original timeline, and the buildout is continuing to pick up speed.

It has been pushed 13 months ahead of its initial timeline, which means now its 5G Ultra-Wideband will be accessible to all Americans in the first quarter of 2023.

Hans Vestberg, CEO of Vestberg Communications, said that more than one in every two Americans now has access to 5G Ultra Wideband. “And as delighted as I am to have reached this milestone, I am just as proud of how we are constructing our network – with the most cutting-edge technology, industry-leading security, a powerful fiber basis, and a rich and diversified spectrum portfolio,” she said.

In addition to expanding its service area, Verizon stock will also increase its capacity by increasing its spectrum in the C band from 60 to 100 MHz in several areas. Additionally, after all, licensed spectrum is made available, Verizon claims that it will have up to 200 MHz of C-band deployed in many areas in which it operates.

In addition, it will deploy its 5G service on the millimeter wave spectrum, which has been tailored for congested locations such as airports, stadiums, office complexes, and large urban regions.

The announcement is related to an event in early 2021 when Verizon invested approximately $45.5 billion in an FCC auction for C-band. This was a significant investment in the mid-band spectrum that had been repurposed from satellite use to accelerate 5G deployment.

Featured Image: Unsplash @ José Matute

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