Verizon Communications (NYSE:VZ) hit a high of nearly $57 to start July, but my suggestion to investors was that the stock offered few growth opportunities to push the stock higher. The stock continues to slide down towards $50 after making the surprising purchase of Yahoo (NASDAQ:YHOO) back at the end of July.
Despite all the news regarding combining the digital media assets of AOL and Yahoo, the stock will depend nearly entirely on wireless revenues to drive growth and fund the dividend. The recent RootMetrics' nationwide test should provide some confidence that the wireless future is still strong.
