Verizon Communications Inc. (NYSE:VZ) is one of the Most Undervalued US Stocks According to Hedge Funds. On May 14, Reuters reported that Verizon Communications Inc. (NYSE:VZ), along with AT&T and T-Mobile, has agreed in principle to form a joint venture aimed at eliminating mobile dead zones across the United States, particularly in rural areas.

​The report noted that this initiative is expected to use satellite-based “direct to device” technology to ensure broader connectivity and improved network reliability during natural disasters. Reuters also highlighted that the announcement follows the FCC’s approval of EchoStar’s $40 billion spectrum sale, with SpaceX acquiring 65 megahertz of spectrum for $17 billion to strengthen its Starlink direct-to-device service. Moreover, AT&T’s portion of the spectrum is expected to expand coverage in rural and underserved regions.

​As per the report, some analysts view this joint venture as partly defensive, given concerns that SpaceX could eventually compete directly with traditional wireless providers.

​Verizon Communications Inc. (NYSE:VZ) is a leading provider of technology, entertainment, and communications services worldwide.

While we acknowledge the potential of VZ as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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