Sea Change – Wireless World
Good news, struggling students and unemployed screenwriters; the days of dragging your laptop to coffee shops and bookstores are numbered.
In two years you could be downloading Iron Man or posting on your blog under a tree, on a city bus or nearly anywhere for that matter. And it will take only seconds on your iPhone or new ultra-thin laptop.
How’s that possible? The next generation of high-speed wireless took a giant leap forward Wednesday when Sprint Nextel teamed up with Clearwire in a multi-billion dollar partnership to bring WiMax technology to 140 million people by 2010. WiMax is five times faster than existing technologies and can blanket entire cities.
The venture is attracting some major players. It’s backed by tech titans Googleand Intel as well as cable kings Time Warner and Comcast .
So how can you make ultra-fast money in this new ultra-fast wireless world?
I think you can look at American Tower or Crown Castle , counsels Pete Najarian for the buildout.
I sold Clearwire on the news, counters Karen Finerman.
Smart move, exclaims Jeff Macke. And stay away from Sprint – they never seem to get anything right. I think the only "buy" is Intel because they’re doing the chip work. They’ll actually make some money on the deal.
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Trader disclosure: On May 7, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Adami Owns (C), (GS), (INTC), (MSFT), (AGU), (NUE), (BTU); Pete Najarian owns (AAPL), (C) Calls, (ENER), (MSFT) Calls, (TSO), (XLF), (YHOO) Calls; Macke Owns (INTC), (DIS0, (ATVI), (MSFT); Finerman’s Firm is Short (IYR), (IJR), (SPY), (MDY), (IWM), Owns SPX Index Puts, (AEO), (MSFT), (NYX), (PLCE), (TSO), (VLO), (YHOO) and (YHOO) Call Spreads, Finerman Owns (GS), Finerman and Finerman’s Firm Own (C)