While COVID-19 has impacted results, the quarterly results of Verizon Communications (VZ) continue to highlight how the promises of 5G aren't going to push the business higher. Most companies with exciting new technologies were able to power through the virus shutdown due to the need for more work-from-home solutions, but the wireless market only saw lower revenues despite higher demand. For these reasons, my investment thesis remains Neutral on Verizon.

Verizon disappointed the market with Q3 results that were negatively impacted by COVID-19. The need for high-speed wireless services should've driven results higher for the likes of Verizon and AT&T (T). Consumers were using wireless services at higher rates to play video games and engage in social media stressing the wireless networks, but the additional usage provided no additional revenues for the wireless service providers highlighting the fundamental problems with the business plans.

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