Verizon CEO reports extended phone lifespan, with AI-capable iPhones potentially driving "upgrade supercycle".
Verizon CEO Hans Vestberg notes that customers now hold onto phones for over 36 months, compared to yearly replacements in the past. This trend, due to economic conditions and lack of urgency, may change with new AI-capable iPhones, potentially creating an "upgrade supercycle" that benefits telecoms like Verizon. The company's 6.5% dividend yield makes it a potential candidate for long-term income investment.
August 10, 2024
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