Phone Upgrade Slowdown Pressures Verizon Stock
VZVerizon(VZ) Schaeffers Investment Research·2024-07-22 22:43

Verizon Communications Inc. (NYSE:VZ) announced a second-quarter revenue miss this morning amid a slowdown in phone upgrades, as cash-strapped consumers hold onto their devices for longer. The stock was last seen down 6.3% to trade at 39,brushingoffbetterthanexpectedsubscribergrowth. VZearlierdippedtoitslowestlevelsinceAprilafteritslatestrallyfellshortof39, brushing off better-than-expected subscriber growth. VZ earlier dipped to its lowest level since April after its latest rally fell short of 42.50, but a familiar floor at the $38.50 level looks ready to contain losses. Though shares are on track for their worst single-da ...