The cell phone upgrade game is changing for Verizon customers. People are holding onto their phones for over 36 months now, compared to the good old days when a new phone was a yearly affair. This slowdown in upgrades has been affecting Verizon’s financial growth.
But fear not, a change is on the horizon. Apple’s new phones with artificial intelligence capabilities are expected to shake things up. This could be the push customers need to finally upgrade their phones sooner rather than later. With advanced features on the horizon, customers may soon find it hard to resist the urge to upgrade.
Verizon CEO, Hans Vestberg, revealed in an interview that customers are holding onto their phones for much longer than before, well past the 36-month mark. This delay in upgrades is due to current economic conditions and a lack of motivation to switch phones too soon. But with Apple’s AI technology on the rise, more customers may be inclined to upgrade.
Investors, take note! The stock market may soon see a surge in Verizon’s growth rate as more customers upgrade their phones. With a generous dividend yield of 6.5%, Verizon could be a smart addition to your investment portfolio. Don’t miss out on the opportunity to jump on board before the growth train leaves the station. Verizon may not be a high-flying growth stock, but it could be a steady income earner in the long run.
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