Q4 Likely to Be More Competitive for Wireless Carriers, Wells Fargo Says

Verizon performed well in Q3, but Q4 is likely to present additional challenges, Wells Fargo's Jennifer Fritzsche emailed investors Friday. “We expect Q4 will be more competitive in the wireless business with higher volumes and more switching activity, given the launch of the Google phone and iPhone X,” she wrote. “This will likely pressure wireless margins in the quarter as promotional activity ramps up.” Wells Fargo rates Verizon as “Market Perform” but believes the carrier “is moving in the right direction now that its unlimited plans have gained traction,” she said. The company reported quarterly results Thursday (see 1710190033).