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Mike Funk

Senior Vice President at Bank of America Corp. /de/

Hockessin, DE, US

Michael Funk is a Senior Vice President at Bank of America with extensive leadership experience in banking operations and real estate management. Throughout a multi-decade career, he has held senior roles at Bank of America since 1996 after beginning his career as a Terminal Manager at Roadway Express. Although primarily focused on operational and executive management rather than public securities analysis or equity research, Funk has demonstrated strategic acumen in managing complex organizational challenges. He holds a Bachelor of Arts degree from Indiana University of Pennsylvania, underscoring his long-standing commitment to the financial industry.

Mike Funk's questions to SBA COMMUNICATIONS (SBAC) leadership

Question · Q3 2025

Mike Funk (Bank of America Corporation) asked for background on the negotiation timeline for the new Verizon MLA. He also inquired whether carriers' contemplation of expanding Fixed Wireless Access (FWA) into more rural areas represents active discussions with SBA or more of an anticipation of future market movements.

Answer

Brendan Cavanagh, President and CEO of SBA, stated that Verizon MLA discussions had been ongoing for much of the year, taking time but moving efficiently. On FWA expansion into rural areas, he described it as a mix of anticipation and observed activity. Mr. Cavanagh noted FWA deployments don't look different from traditional 5G mid-band, making it hard to distinguish, but expects continued FWA push into additional communities, driven by subscriber growth, potentially facilitated by the Verizon agreement.

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Question · Q1 2025

An analyst on behalf of Mike Funk asked what SBA attributes the increase in new leasing activity to and requested a split by carrier. The analyst also asked for quantification of the potential benefit from higher CPI rates on international escalators.

Answer

President and CEO Brendan Cavanagh attributed the leasing increase to a variety of factors including increased subscriber activity, bandwidth-intensive products like FWA, and specific regulatory requirements for T-Mobile. He declined to provide a carrier-specific breakdown. On CPI, he noted that elevated rates, particularly in Brazil, could potentially add '$1 million or $2 million' to the full-year outlook if they persist, but guidance has not yet been raised for this.

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Mike Funk's questions to CCC Intelligent Solutions Holdings (CCCS) leadership

Question · Q1 2025

Matthew Bullock, on for Mike Funk, asked how macroeconomic uncertainty could impact implementation cycles and adoption momentum for CCCS's emerging solutions.

Answer

CEO Githesh Ramamurthy stated that strong demand for emerging solutions continues and that implementation cycles are not currently being affected, citing a recent fast OEM rollout. He clarified that the cautious guidance reflects prudence regarding the broader macro environment, not a currently observed impact on sales or implementation velocity.

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Mike Funk's questions to EQUINIX (EQIX) leadership

Question · Q1 2025

Mike Funk asked about the read-through from Microsoft's strong Azure growth on the demand Equinix is seeing for AI inferencing.

Answer

CEO and President Adaire Fox-Martin stated that Equinix continues to win significant AI opportunities, with 50% of the top 25 deals in Q1 being AI-related. She noted that while service providers are chasing capacity, enterprises are focused on targeted use cases. She highlighted Equinix's value proposition for inference, including its flexible data strategy, privacy-first approach, low-latency networks, and partner ecosystem, which supports demand for both centralized 'AI factories' and distributed edge inferencing.

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Mike Funk's questions to AMERICAN TOWER CORP /MA/ (AMT) leadership

Question · Q1 2025

Mike Funk sought more color on which markets are most vulnerable to uncertainty, leading to the cautious guidance, and asked to what extent services revenue is dependent on a single carrier's RAN upgrade versus being more broad-based.

Answer

CEO Steven Vondran identified emerging markets as more susceptible to global macro shocks and FX volatility, while stating the U.S. outlook is firm. CFO Rod Smith added that uncertainties around inflation, interest rates, and FX make it prudent to not raise core guidance. Vondran clarified that the overall services business is broad-based across customers and activities, not dependent on a single project.

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