Stocks
Verizon Reaches Near 52-Week High Amid AI Partnership and Revenue Growth
Verizon Communications Inc. (VZ) has made significant strides in its recovery over the past year, with its stock price reaching $50.15 on August 24th, up 23% for the year and near its 52-week high of $51.68.
The company's turnaround can be attributed to two key factors: a fresh data point from its expanded AI partnership with Google Cloud, and a new revenue stream that begins layering in during 2027.
Verizon is targeting at least $9 billion of combined operating and capital savings this year, and the Q2 adjusted EBITDA margin of 40.06% was the highest it has ever reported.