Recently, Verizon Communications Inc. VZ stated that its 5G Ultra Wideband mobility service is available in select locations in Cleveland and Columbus, OH, and Hampton Roads, VA. Increasing the tally, the telecom bellwether has turned on its much-acclaimed service in 31 cities, 15 NFL stadiums and four indoor arenas.

Through this, Verizon has reached its goal of deploying 5G service in more than 30 cities by the end of 2019. Its service, which includes high speed, low latency and expanded coverage, is available with seven 5G-enabled devices. With industry-leading wireless products and services, the company is well positioned to benefit from accelerated 5G launch in the United States.

The company’s 5G network hinges on three fundamental drivers to deliver the full potential of next-generation wireless technology. These involve massive spectrum holdings, particularly in the millimeter wave bands for faster data transfer, end-to-end deep fiber resources and the ability to deploy large number of small cells. Verizon has systematically invested in 5G technology to gain a foothold in the ecosystem.

Moving into 2020, with the ramp-up of 5G service across the country, Verizon is likely to optimize ample opportunities while underplaying competitive pressure. Further, its focus on upgrading network will augment speed and performance for better customer service. The company aims to retain its lead in promulgating 5G mobile networks nationwide by using virtualized machines, advanced levels of operational automation and adaptability.

On Dec 20, Verizon communicated that it has deployed 5G service in six U.S. cities — Miami, FL; Salt Lake City, UT; Grand Rapids, MI; Charlotte and Greensboro, NC; and Spokane, WA. With peak download speed hitting 1.5 Gbps, its 5G network is expected to offer ultra-fast Wi-Fi with unparalleled bandwidth for interactive gaming, real-time connectivity, 4K video streaming and chatting with reduced lag time.

With intensifying 5G race, Verizon has been seeking competitive edge in a saturated and price-sensitive market, which includes prominent competitors like AT&T Inc. T and T-Mobile US, Inc. TMUS. Year to date, Verizon’s shares have added 9% compared with the industry’s growth of 19.2%.

The company is looking forward to capitalize on the countless innovative technology solutions being developed in the IoT and telematics ecosystem across multiple industries. Its focus on online content delivery, mobile video and advertising is likely to drive growth.

The Zacks Consensus Estimate for its current-year earnings has been revised 0.2% upward over the past 60 days to $4.83. The company surpassed earnings estimates in each of the trailing four quarters, delivering a surprise of 2.2%, on average.

Verizon currently has a Zacks Rank #3 (Hold).

A better-ranked stock in the broader industry is Qualcomm Incorporated QCOM, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Qualcomm has a long-term earnings growth expectation of 14%.

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