Verizon Communications Inc. (VZ) offers communications, technology, information, and entertainment products and services worldwide to consumers, businesses, and governmental entities. The New York City company has approximately 27 million wireless retail postpaid connections and 477,000 wireline broadband connections. In comparison, T-Mobile US Inc. (TMUS) in Bellevue, Wash., provides mobile communications services in the United States, Puerto Rico, and the United States Virgin Islands. The company offers voice, messaging, and data services to 108.7 million customers in the postpaid, prepaid, and wholesale markets.
Telecommunication has been in high demand as the need for advanced connected technologies increased amid the COVID-19 pandemic, with people spending most of their time at home. In addition, with the resurgence of COVID-19 cases in China and other parts of the world, telecom services are expected to continue witnessing increasing demand as hybrid working is likely to dominate in the near term. Moreover, rising expenditure on the deployment of 5G infrastructures due to the shift in customer demand toward next-generation technologies and smartphone devices is driving the telecom industry’s growth. According to a report by Grand View Research, the global telecom services market is expected to grow at a 5.4% CAGR by 2028. Therefore, both VZ and TMUS should benefit.
