New York, Nov 23 (TradersHuddle.com) - Verizon Wireless (NYSE:VZ) fired the first salvo with its marketing campaign that compares its 3G coverage and AT&T’s (NYSE:T).

With the Verizon’s campaign underway, AT&T tried to stop it through legal challenges, after it seemed that the marketing message was gathering hold with consumers. Unable to stop it legally, now AT&T (NYSE:T) started a counter ad of its own, fighting back with good old marketing.

The ad shows actor Luke Wilson, comparing the features offered by AT&T and Verizon Wireless. The ad asks about the better smartphones, of course AT&T has the iPhone and access to 100,000 aps. The most compelling part of the ad is the claim that you can surf and talk at the same time.

It seems that even if the first ad from Verizon was a big punch. You wonder if the fight in the top between both wireless giants will result in a winner, especially with AT&T having Apple (NASDAQ:AAPL) on their side as for sure the technology company will come and defend its iPhone turf.

Meanwhile, shares of AT&T jumped 2.9% to $26.78 boosting telecommunication shares to the biggest gain among 10 industries in the S&P 500.  A Barron’s article citing an analyst at Gabelli  & Co. stated that the telephone company may be undervalued amid concern its exclusive contract for Apple Inc.’s iPhone in the U.S. may expire next year.