Amazon did not immediately respond to a request for comment. Shares of Verizon Communications Inc and AT&T both closed down more than 4% on Friday. The market assumes Amazon wants to become a wireless carrier itself, "but that thinking is too small," said Colby Synesael, an analyst with Cowen. Amazon`s larger motivation could be that it expects 5G to be integral to cloud services in the future for industries like healthcare and autos, which will use 5G-enabled devices, he said.