Crown Castle International

1. Changing consumer preferences: Crown Castle International's business is heavily reliant upon the willingness of customers to install and maintain cell towers and digital infrastructure, which provides it with revenue. Changes in consumer preferences and technology could adversely affect its business.

2. Revenue Concentration: Crown Castle International generates most of its revenue from a few large customers, including some telecommunications companies. This dependence on a few customers for a major part of its revenue could expose the business to risks associated with one or two of the customers.

3. Regulatory risks: The company’s business is heavily regulated due to the nature of its services. Changes in regulation or enactment of new laws can adversely affect its business.

4. Leverage: The company has considerable debt which can lead to increased costs. Higher costs can shrink revenues and profits, as well as reduce its financial flexibility.

5. Competitor Pressure: Crown Castle International is subject to increased competition from other companies in the tower and digital infrastructure industries. Intense competition can negatively impact its pricing power and overall profitability.