Stocks: (S)(NOK)(MOT)(INTC)
Sprint is gunning its WiMax engines as it gets ready to spread the service across the US. Nokia is about to be selected for infrastructure equipment along with current suppliers Samsung and Motorola. The Sprint project is slated to be able to reach 100 million potential customers by 2008.
Sprint has lost a lot of its fan base. The stock was at almost $27 in April. It now trades around $19. It integration with NexTel was considered a train wreck. But, WiMax, a system not being used by Sprint’s major competitors. And, the economics could be compelling.
The Wall Street Journal believes that major suppliers like Motorola are putting capital into the Sprint WiMax roll-out. Sprint says it is spending $3 billion, but it is not entirely clear how much of that is blended with supplier investment.
Intel, Motorola, Samsung, and now Nokia are supporting WiMax build outs.
If there bet is right, Sprint’s stock is headed North.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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