Sprint (S), as speculated, may secure the rights to the iPhone 5 on Oct. 7, and to say the date has become an anticipated event in tech and media sectors circles, would be an understatement. The buzz about the iPhone 5 has been the most since perhaps Microsoft's (MSFT) hey-day in the 1990s, and its much-anticipated launches of new operating systems.

What's more, if the iPhone 5 can come close to matching its hype, the iPhone 5 has the potential spark an iPhone 5 Wave, if you will in the cell phone service provider sector -- in other words, a renaissance in the sector -- one that attracts new minds (translation: subscribers) that previously had not considered the iPhone 5 or even smartphone

And that's good news, not only for iPhone 5 newbie Sprint, but also for oldbee iPhone 5 carrier Verizon (VZ).

Verizon Communications (VZ), remains well positioned in the competitive wireless sector. Look for 2011 revenue to recover to $110 billion, up 3 percent, with a rise to $115 billion seen for 2012.

Verizon should see a substantial revenue gain in its wireless data services, as more subscribers access data on that aforementioned iPhone 5, and on the existing iPhone4.

Meanwhile, Verizon's FiOS t.v. service will continue to impress investors and will help offset revenue doldrums in its landline (wireline) unit. however, Verizon's landline business continues to provide a modest amount of revenue stability.

As of June 2011, Verizon has 25 million landline voice connections, 89.7 million wireless subscribers, and 16.6 million wholesale subscribers on its network.

Meanwhile, competition may hurt overall subscription prices. Apple's (AAPL) iPhone smartphone continues to provide a subscriber tailwind.

A rock-solid $2.00 annual dividend -- good for a cool 5.45% yield at the current stock price of about $35.40 -- adds to the positive mix.

The Thomson Reuters First Call FY2011/FY2012 EPS estimates for VZ are $2.24 to $2.60. That 2011 EPS looks about 5% low, according to my analysis.

Technically, Verizon's shares did a slow walk down from $39 to $34 during mid-2011, then plunged to about $32, but the drop was short-lived, and the stock has since moved back above $35. There is the danger of a head-and-shoulders formation, but the calculation here is that the uptrend is stronger and should prevail.

Stock Category: Verizon is ideal for investors who want a comparatively safe, dependable company and stock investment. Don't look for gargantuan growth with VZ. There's only a 5 percent chance you'll lose your entire investment with VZ over a 10-year period. And you'll like the as-noted $2 annual dividend.

2011 Outlook: I view Verizon as a long-term play, but if you're looking to sell VZ within the year, it's probably best to take your profits after it rises to $43-46, if it fails to rise above $47.

Stock Analysis: Verizon Communications is a moderate-risk stock. If an investor has already purchased the company's shares, I'd hold them. If not, I'd consider buying a 50 percent position in VZ now and another 25 percent in one month. I'd put a sell/stop loss at: $27.


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Disclosure: L.C. Jacobs of New York, N.Y. reviews stocks on a quarterly, semi-annual, and annual basis.

L.C. Jacobs has no positions in stocks reviewed, but does own federal, municipal, and corporate bonds.