Sprint Adds 34 New Markets to LTE Coverage and 2 More Heavily Traded Stocks to Follow
Sprint Nextel Corp. (NYSE:S): Current price $6.049
Concurrent with Apple’s debut of its latest iPhones, Sprint has added 34 new markets to its burgeoning LTE coverage. The number-three domestic wireless carrier now has its LTE network operating in some 185 markets spanning the United States. The carrier has closed its legacy iDEN network and is spending big bucks on a Network Vision strategy to grow LTE coverage to around 200 million POPs by the end of 2013.
RF Micro Devices Inc. (NASDAQ:RFMD): Current price $5.74
According to Canaccord, iPhone 5S and 5C teardown indicates that RF Micro Devices share content has risen. The firm believes that RF Micro is well positioned to se strong 2014/15 growth, powered by LTE smartphone platforms together with cost savings initiatives to push strong margins. Shares are rated Buy rated with a price target of $7.50.
Qualcomm Inc. (NASDAQ: QCOM): Current price $69.06
A report released earlier in September by the Global Mobile Supplier Association described the intense global growth of LTE networks during the next few years, which indicates that Qualcomm has the most to benefit. The GSA report says that over the past 12 months, carriers spanning the globe have added 113 LTE networks in 81 countries, bringing the aggregate to 213. In the meantime, 406 carriers have committed to bringing LTE to 125 countries. The growth of new LTE networks implies increased LTE subscriber adoption, along with increased LTE handset sales. GSA projects a 44-percent compound annual growth rate of LTE handsets from this year through 2015.