Big news in the world of stocks! Telecom companies, like the ones that make your phones work, aren't doing so well lately. Verizon, a huge telecom company, said things are tough because people are keeping their phones longer and competition is high. This made investors worried.
- Verizon's top guy said the first three months of the year were really competitive.
- People are keeping their phones for over 41 months now, much longer than before!
- This news made the stocks of AT&T and T-Mobile go down by almost 5% and 4%, respectively.
- Even a company called Ciena, which makes networking stuff, saw its stock price fall, even after good news!
| Company | Stock Change |
|---|---|
| AT&T | Down almost 5% |
| T-Mobile | Down almost 4% |
| Ciena | Down over 2% |
