IBD Anniversary OfferIBD Anniversary Offer


AT&T, Verizon, T-Mobile To Get Trump's Ear On 5G Technologies

President Trump is scheduled to discuss wireless technologies with industry providers on Thursday. (AP)

AT&T (T), Verizon Communications (VZ) and other wireless phone companies are set to discuss 5G and other technologies with President Donald Trump and top administration officials Thursday morning, with radio spectrum usage a key policy issue.

The wireless industry gathering follows Trump's meeting on Monday with the heads of 18 U.S. technology companies including Apple (AAPL), Amazon.com (AMZN) and Microsoft (MSFT). The tech meeting focused on making the government's computing systems more efficient.

Aside from AT&T and Verizon, also taking part in the wireless industry meeting will be T-Mobile US (TMUS), Sprint (S), venture capital firms and portfolio companies. The wireless meeting will focus on how government can create the right environment for breakthroughs, said a White House release.

Ajit Pai, Federal Communications Commission chairman, Commerce Secretary Wilbur Ross, and Gary Cohn, national economic director, also are expected to attend. The Obama administration made several blocks of high-frequency airwaves available for next-generation 5G services.

The Obama FCC's initiatives included making frequencies in the 3.5 GHz band available for shared usage. That plan was backed by tech companies led by Alphabet's (GOOGL) Google.


IBD'S TAKE: For news on top-performing technology stocks, take a look at IBD reports on tech leaders.


T-Mobile and industry trade group CTIA, though, have asked the Trump administration to take a fresh look at the 3.5 GHz rules.

5G networks are expected to enable faster wireless internet services to homes as well as high-speed connections to drones and self-driving cars.

RELATED:

Verizon Makes Big 5G Fiber Deal, But Puts This Option On Hold

Why The Race To Wireless 5G? The Internet Of Things

Amazon, Dish Wireless Deal Would Target Internet Of Things: Citi