September's best tech performer on the Dow was Verizon Communications (NYSE:VZ). Shares rose around 6%, driven largely by anticipated demand for Apple's (NASDAQ:AAPL) iPhone 5. Verizon and rival AT&T (NYSE:T) share an effective duopoly in the telecom space, but the former has a strong advantage, with coverage in 317 cities for its 4G LTE. This already covers nearly 75% of the U.S. population, and by the end of the year they plan to grow that number to an estimated 400 cities.
Contrast that with AT&T, which has 65 major markets and plans to expand to only 100 this year. Sprint (NYSE:S), the No. 3 U.S. carrrier, has a mere 19 markets under coverage but has stated ambitious expectations to add an additional 100 by year's end.
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Andrew Tonner owns shares of Apple. The Motley Fool owns shares of Apple. Motley Fool newsletter services recommend Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.