Street Sleeps on American Tower
Apparently, someone somewhere—and more than just a few people at that—don’t get the central role cell-phone towers will play as the telcos race to expand their network capacity. Otherwise they wouldn’t have sold American Tower after its positive quarter on Friday.
The real-time demand for data, video and voice is constantly expanding, and the way to give consumers what they want is with these towers. So the AT&Ts , Verizons and Sprint Nextels of the world will look to lease more and more antenna space from companies like American Tower in order to obtain the requisite bandwidth.
That’s why Cramer thinks shares of AMT, which with 33,000 towers across the globe is the industry’s biggest player, will continue to rise in price, even if it is flirting with its 52-week high. For those who may still doubt, though, he brought CEO Jim Taiclet on to “Mad Money” to make his own case. Watch the video for the full interview.
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