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Anterix Stock Gains on iPhone Compatibility for 900 MHz Spectrum, New Buyback Plan
Shares of Anterix (ATEX) climbed 3.4% in pre-open trading Thursday, propelled by a landmark technology announcement and a renewed commitment to shareholder returns.
iPhone Compatibility Broadens Market
Anterix announced that Apple’s new iPhone 18 Pro and iPhone Duo are the first smartphones capable of operating on private LTE networks using the company's licensed 900 MHz spectrum. According to the company, this development marks a pivotal moment for the commercialization of private wireless technology.
The compatibility signals that widely used consumer devices can now integrate with mission-critical private networks. This could significantly broaden the potential customer base for Anterix’s spectrum licensing business and accelerate the adoption of its network by enterprise and utility clients.
AdBuyback Program and Market Sentiment
Investor confidence was also bolstered by the seamless continuation of the company's share repurchase program. Anterix's board authorized a new $250 million buyback plan on September 16, which is set to take effect on September 22.
This new authorization replaces a prior $250 million program that expires today. The continuity signals management's confidence in the company's valuation and its sustained commitment to returning capital to shareholders. A supportive broader market, with major U.S. indices trading higher in the pre-market, provided a positive backdrop for the company-specific news.
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