Verizon Communications Inc. sees a more competitive wireless environment this quarter, and that’s weighing on its stock. Verizon calls out a more competitive wireless industry, and that’s weighing on its shares, as well as those of its peers. Shares of Verizon (VZ) are off more than 7% in morning action after its chief revenue officer acknowledged “a challenging quarter from a competitive intensity standpoint” at a Deutsche Bank investor conference, according to a FactSet transcript. AT&T Inc.’s stock (T) is down about 3%, as is T-Mobile US Inc.’s (TMUS) stock. Wireless stocks have held up better than the S&P 500 SPX this year, and the three big U.S. carriers eked out fractional stock gains on Monday in the face of the market rout. Verizon’s stock was up about 16% on the year, through Monday’s close, while AT&T’s was ahead 20% and T-Mobile’s was up 21%. The S&P 500, by contrast, was down more than 4%. What is your take on wireless technologies investment ?
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