Morningstar

Verizon Communications Inc

VZ: XNYS (USA)

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Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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We've Increased Our Uncertainty Rating on Verizon Following SpaceX's Latest Spectrum Purchase

Oct 9, 2026

Business Strategy and Outlook

We expect Verizon and its two primary wireless rivals, T-Mobile and AT&T, to compete rationally in the coming years. That said, we expect Verizon to struggle to grow as fast as its rivals, even with the shift to lower service pricing and a stronger focus on customer satisfaction. SpaceX is also threatening to build a terrestrial wireless network. While unlikely in our view, such a move would create a new round of competitive intensity.

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