Shares of the wireless carrier T-Mobile (NASDAQ:TMUS) are in the spotlight. The U.S. Navy has chosen TMUS to provide communication technology under a $2.67 billion Spiral 4 contract for the next ten years. This contract will enable the company to provide wireless services and equipment to the Department of Defense agencies.
Despite a challenging wireless market, T-Mobile has expanded its services and strengthened its competitive positioning. For instance, it launched 5G Advanced Network Solutions, offering 5G private and hybrid networks tailored to government needs. T-Mobile also introduced Government Internet, a 5G fixed wireless service for reliable primary or backup internet connections.
Additionally, it provides a compliant messaging solution in partnership with 3rd Eye. Further, the company collaborated with Elon Musk’s SpaceX to integrate T-Mobile’s network with Starlink satellites for broader connectivity.
T-Mobile Teams Up with Uber
In a separate development, T-Mobile has teamed up with ride-hailing services provider Uber’s (NYSE:UBER) advertising division to capitalize on the advertising opportunities within the rideshare industry. As part of the agreement, Uber will leverage T-Mobile’s advertising solutions and its rideshare media network – Octopus Interactive – to connect with advertisers.
It’s worth noting that T-Mobile acquired Octopus Interactive in 2022. Octopus Interactive has the largest network of interactive video screens inside Uber and Lyft (NASDAQ:LYFT) vehicles. This new partnership represents a significant progression for T-Mobile’s Marketing Solutions, its rapidly expanding advertising technology business, as it seeks to broaden its advertising offerings for marketers.
Is T-Mobile a Good Stock to Buy Now?
Wall Street analysts are bullish about T-Mobile’s prospects. 16 analysts cover T-Mobile stock, and all recommend a Buy.
T-Mobile stock has gained over 38% in one year, outperforming AT&T (NYSE:T) and Verizon (NYSE:VZ). Further, analysts’ price target on TMUS stock is $190.85, implying 8.99% upside potential from current levels.
