Published on 30 Sep 2022 on Insider Monkey via Yahoo Finance
10 Best Telecom Stocks to Buy Right Now
In this article, we discuss 10 best telecom stocks to buy right now. If you want to read about some more telecom stocks to buy right now, go directly to 5 Best Telecom Stocks to Buy Right Now.
Although cable broadband providers continue to control over 66% of the market share in the telecommunications business, as they have for more than a decade, a number of external pressures and consumer preferences, coupled with comparable or superior data speeds offered by other technologies, are fast challenging their supremacy in the medium. According to a report by management consulting firm RSM US, these cable providers rely on a strong, established infrastructure, capable of providing reliable, high-speed internet connectivity and video.
However, changing consumer behaviors are reshaping the industry. According to data from Pew Research Center, the share of Americans who say they watch television via cable or satellite is falling rapidly and is being replaced by streaming services. Bloomberg data reveals that there were 39.6 million paid cable TV connections in the US at the end of 2021, compared to 75.2 million Netflix subscribers, 42.9 million Disney+ subscribers, and 40.9 million Hulu subscribers. Per RMS, the shift indicates competitive differentiation driven by the value of data offerings.