The global telecom services industry was estimated at $1,983.08 billion in 2024, according to Grand View Research. This number is projected to reach $2,874.76 billion by 2030, given that the industry grows at a CAGR of 6.5% from 2025 to 2030. One of the reasons behind this growth is the rising spending on the deployment of 5G infrastructures due to the shift in customer inclination toward next-gen technologies and smartphone devices. The Deloitte Center for Technology, Media & Telecommunications highlighted the industry’s drive to re-enter a growth phase. Despite telecom stocks increasing by about 11% in 2024, the number lagged behind the S&P 500’s 25% and NASDAQ’s 30% gains, which prompted telecom CEOs to seek new avenues for higher stock valuations.
The industry, historically oscillating between high-growth and slow-but-steady periods with average global dividend yields of about 4%, is projected to focus on cost-cutting, capital expenditure control, monetizing past investments, and strategic M&A through 2030. A key focus for 2025 is GenAI, which telcos aim to use for the aforementioned goals. While hundreds of billions to over a trillion dollars are expected to be spent on GenAI’s physical infrastructure over the next 5 years, and nearly another hundred billion on software and services, telcos primarily see opportunities in providing connectivity for this ecosystem. This includes both intra-data center connectivity and massive long-haul fiber networks connecting data centers across regions or continents.
Big tech players are projected to spend over $100 billion on network capital expenditure between 2024 and 2030, which represents 5% to 10% of their total capital expenditure in that period, an increase from a historical average of 4% to 5%. While initial GenAI use cases are often text-based and not bandwidth-intensive, potential future demand could arise from real-time video, although on-device GenAI processing chips may reduce the need for high-speed network connectivity.
That being said, we’re here with a list of the 10 best telecom stocks to buy according to Wall Street analysts.
An aerial view of a telecom tower, representing the company’s dedication to communication services.
Methodology
We sifted through the Finviz stock screener to compile a list of the top telecom stocks that had a high average upside potential of over 30% as of June 24. The stocks are ranked in ascending order of their average upside potential. We’ve also added the hedge fund sentiment for each stock, which was sourced from Insider Monkey’s database, as of Q1 2025. The hedge fund data was sourced from Insider Monkey’s database which tracks the moves of over 1000 elite money managers.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10 Best Telecom Stocks to Buy According to Wall Street Analysts
10. KVH Industries Inc. (NASDAQ:KVHI)
Number of Hedge Fund Holders: 6
Average Upside Potential as of June 24: 31.83%
KVH Industries Inc. (NASDAQ:KVHI) is one of the best telecom stocks to buy according to Wall Street analysts. Earlier in May, KVH Industries launched the CommBox Edge Secure Suite, which is an advanced service designed to support cybersecurity for maritime operations. The new offering aims to detect, prevent, and report cybersecurity threats.
The offering will also actively block harmful traffic in real time to safeguard vessel communications and network security. KVH’s CommBox Edge platform is a management tool for maritime IT professionals, and the Secure Suite is integrated as a service option within this platform. It is compatible with CommBox Edge 6 and Edge 2 below-deck appliances, as well as the CommBox Edge virtual machine option.
The Secure Suite utilizes sophisticated cybersecurity technologies, such as Cisco Talo. The system can manage up to 30 onboard local area networks and offer secure remote access to networked devices, high-speed virtual private network/VPN links, and deep packet inspection.
KVH Industries Inc. (NASDAQ:KVHI) designs, develops, manufactures, and markets mobile connectivity solutions for the marine and land mobile markets in the US and internationally.
9. WideOpenWest Inc. (NYSE:WOW)
Number of Hedge Fund Holders: 13
Average Upside Potential as of June 24: 34.84%
WideOpenWest Inc. (NYSE:WOW) is one of the best telecom stocks to buy according to Wall Street analysts. On June 23, WOW! Internet, TV & Phone (brand name under which WideOpenWest markets) announced a $10,000 donation to the Hernando County Education Foundation/HCEF. The non-profit organization is dedicated to advancing student achievement and promoting excellence within Hernando County’s public education system.
The donation followed the recent launch of the company’s all-fiber internet services in Spring Hill and Hernando Beach in Florida. The funds were specifically used to sponsor HCEF’s annual Summer Reading and STEM Bash, a free event for local families held on June 21.
The event featured books, interactive STEM projects, and various children’s activities that explored careers in engineering, energy, environmental sustainability, and reading. As part of its Greenfield expansion initiative, WOW! plans to extend its all-fiber network to 44,000 homes in Hernando County, including Spring Hill and Hernando Beach. WOW! currently serves customers in 20 markets across the Midwest and Southeast.
WideOpenWest Inc. (NYSE:WOW) provides high-speed data, cable television, and digital telephony services to residential and business customers in the US.
8. RADCOM Ltd. (NASDAQ:RDCM)
Number of Hedge Fund Holders: 9
Average Upside Potential as of June 24: 36.99%
RADCOM Ltd. (NASDAQ:RDCM) is one of the best telecom stocks to buy according to Wall Street analysts. Earlier in May, RADCOM announced a significant multi-year, eight-figure contract renewal with a leading North American telecommunications operator. The agreement extends the existing partnership and also expands the scope of RADCOM’s intelligent assurance services.
RADCOM is expected to optimize network performance and service quality for the operator’s infrastructure under the renewed contract. The precise financial terms and the identity of the telecom operator were not disclosed at the time. Although the continuation shows the effectiveness of RADCOM’s ACE platform in meeting the demands of large-scale telecom networks.
The ACE platform, which is an automated assurance and analytics solution, uses AI and ML for automated network analysis. RADCOM’s Network Intelligence suite, which includes Network Visibility, Service Assurance, and Network Insights, uses smart data collection and ML techniques to provide comprehensive network analysis and troubleshooting.
RADCOM Ltd. (NASDAQ:RDCM) provides cloud-native and 5G-ready network intelligence solutions for communication service providers/CSPs.
7. Iridium Communications Inc. (NASDAQ:IRDM)
Number of Hedge Fund Holders: 38
Average Upside Potential as of June 24: 38.26%
Iridium Communications Inc. (NASDAQ:IRDM) is one of the best telecom stocks to buy according to Wall Street analysts. On June 4, GCT Semiconductor Holding Inc. (NYSE:GCTS) announced a collaboration with Iridium Communications to integrate Iridium NTN Direct service into GCT’s advanced GDM7243SL chipset.
The partnership aims to expedite the development of a new Iridium network-enabled Narrowband Internet of Things (NB-IoT) chipset. The development will adhere to the requirements for 3GPP Release 19, which is the next phase of 5G Advanced technology to integrate satellite communications. Both companies will jointly explore opportunities, business models, specific use cases, and commercial deployment requirements for the new chipset.
3GPP Release 19 builds upon Release 18, which further enhances 5G networks with features like improved support for Non-Terrestrial Networks (NTNs) and satellite communications, network energy efficiency, and AI/ML integration. The functional freeze of features for Release 19 is expected by September this year, with the first Iridium NTN Direct-connected devices planned to be available in 2026.
Iridium Communications Inc. (NASDAQ:IRDM) offers mobile voice and data communications services & products to businesses, the US & international governments, non-governmental organizations, and consumers. GCT Semiconductor Holding Inc. (NYSE:GCTS) is a fabless semiconductor company that designs, develops, and markets ICs for the wireless semiconductor industry.
6. Crexendo Inc. (NASDAQ:CXDO)
Number of Hedge Fund Holders: 17
Average Upside Potential as of June 24: 38.41%
Crexendo Inc. (NASDAQ:CXDO) is one of the best telecom stocks to buy according to Wall Street analysts. On June 24, Crexendo announced that BCN made a significant strategic investment aimed at expanding the capacity of BCN’s IP Voice services, which are built on Crexendo’s NetSapiens platform.
BCN’s Cloud Voice services are experiencing an accelerating demand for IP-enabled solutions, such as UCaaS, Call Center functionalities, SIP trunking, and Plain Old Telephone Service/POTS replacement. The expansion is crucial for BCN to support businesses transitioning from outdated and traditional TDM (Time-Division Multiplexing) infrastructure to more modern and scalable communication systems.
POTS replacement refers to the process of transitioning from traditional analog telephone lines/POTS to modern digital communication systems like VoIP, cellular, or cloud-based solutions. The President and COO of BCN, Julian Jacquez, believes that the high adoption of the company’s POTS Replacement solutions has driven this capacity increase. With increased platform capacity, BCN is positioned to better support its nationwide network of technology advisors.
Crexendo Inc. (NASDAQ:CXDO) provides cloud communication platform software and unified communications as a service in the US and internationally. BCN is a US-based managed network and technology solutions provider.
5. VEON Ltd. (NASDAQ:VEON)
Number of Hedge Fund Holders: 8
Average Upside Potential as of June 24: 51.22%
VEON Ltd. (NASDAQ:VEON) is one of the best telecom stocks to buy according to Wall Street analysts. On June 18, VEON announced that its Ukrainian subsidiary, called Kyivstar, has received regulatory approval to begin testing Starlink Direct-to-Cell (D2C) services. The approval was granted by the Ukrainian National Commission for the State Regulation of Electronic Communications, Radio Frequency Spectrum, and the Provision of Postal Services/NCEC.
The regulatory decision follows the integration of Kyivstar’s mobile network with Starlink’s Direct-to-Cell service. Recently, a compatibility testing of Kyivstar’s SIM cards with Starlink’s satellite network at a partner technology evaluation lab in the US proved successful. This confirms that Kyivstar SIM cards are compatible with the Starlink D2C system.
The planned commercial launch of these D2C services is scheduled for Q4 2025. The initiative is expected to enhance Kyivstar’s ability to provide essential connectivity across Ukraine, particularly in rural regions. Field testing for these services is slated to commence in select Ukrainian regions this summer. Kyivstar is Ukraine’s largest digital operator.
VEON Ltd. (NASDAQ:VEON) is a digital operator that provides telecommunications and digital services to corporate and individual customers in Pakistan, Ukraine, Kazakhstan, Uzbekistan, and Bangladesh.
4. Turkcell Iletisim Hizmetleri (NYSE:TKC)
Number of Hedge Fund Holders: 10
Average Upside Potential as of June 24: 52.15%
Turkcell Iletisim Hizmetleri (NYSE:TKC) is one of the best telecom stocks to buy according to Wall Street analysts. Towards the end of May, Turkcell announced that its subsidiary, called TDC Veri Hizmetleri (or simply TDC), secured €100 million in murabaha financing. The 5-year financing agreement was made with Emirates NBD Bank, which is a banking group in the Middle East and Türkiye MENAT region.
The murabaha financing adheres to interest-free Islamic finance principles and helps TDC support its position in the data center and cloud business. The funds empower Turkcell Group’s data center investments via TDC, accelerate its digital infrastructure initiatives, and align with its long-term growth objectives.
Turkcell prioritizes the development of high-capacity and eco-friendly data centers for cloud computing, AI, and big data demands. This approach aligns with the company’s national digitalization goals. Turkcell Group offers a portfolio of voice, data, and IPTV services across its mobile and fixed networks, in addition to digital consumer, enterprise, and techfin services.
Turkcell Iletisim Hizmetleri (NYSE:TKC) provides converged telecommunication and technology services in Turkey, Belarus, the Turkish Republic of Northern Cyprus, and the Netherlands.
3. Shenandoah Telecommunications Company (NASDAQ:SHEN)
Number of Hedge Fund Holders: 14
Average Upside Potential as of June 24: 82.33%
Shenandoah Telecommunications Company (NASDAQ:SHEN) is one of the best telecom stocks to buy according to Wall Street analysts. On June 20, Shenandoah Telecommunications (also known as Shentel) announced a definitive agreement to acquire the assets and operations of Blacksburg Broadband LLC, which operates as WideOpen Blacksburg. The acquisition is set to expand Glo Fiber service in Blacksburg, Virginia.
The transaction is to be finalized by early to mid-July this year. Glo Fiber is powered by Shentel and delivers 100% fiber broadband services to residential and commercial customers. These services support symmetrical upload and download speeds of up to 5 gigabits per second. By using fiber-to-the-home technology and Shentel’s extensive 17,200-mile regional fiber network, Glo Fiber ensures high speeds and low latency.
The company is also recognized for its superior local customer service across its markets. Additionally, Glo Fiber offers phone service, video service, and Whole Home Wi-Fi for comprehensive connectivity. Glo Fiber services are currently available to ~363,000 homes and businesses, using state-of-the-art XGS-PON 10 Gbps networks.
Shenandoah Telecommunications Company (NASDAQ:SHEN) provides broadband services and video and voice services in the US.
2. Globalstar Inc. (NASDAQ:GSAT)
Number of Hedge Fund Holders: 18
Average Upside Potential as of June 24: 120.77%
Globalstar Inc. (NASDAQ:GSAT) is one of the best telecom stocks to buy according to Wall Street analysts. On June 24, Globalstar announced its continued partnership with CERES TAG for supporting the livestock industry, particularly in light of the recent New World Screwworm outbreak in Mexico.
The outbreak in Mexico has caused a border closure on live animal imports and put cattle producers on high alert. The New World Screwworm poses a threat to animal welfare and herd productivity. Over the last decade, the direct economic impact of zoonotic diseases has been an estimated $20 billion, with indirect impacts reaching $200 billion.
CERES TAG’s smart ear tags are instrumental in livestock monitoring, providing real-time behavioral data, GPS location, and biosecurity triggers. This information is transmitted without reliance on cellular infrastructure, using Globalstar’s satellite network to ensure uninterrupted connectivity even in the most remote ranching areas.
Globalstar Inc. (NASDAQ:GSAT) provides mobile satellite services in the US, Canada, Europe, Central and South America, and internationally. CERES TAG specialises in direct-to-satellite animal health intelligence technology.
1. Anterix Inc. (NASDAQ:ATEX)
Number of Hedge Fund Holders: 26
Average Upside Potential as of June 24: 160.60%
Anterix Inc. (NASDAQ:ATEX) is one of the best telecom stocks to buy according to Wall Street analysts. On June 23, Digi International Inc. (NASDAQ:DGII) announced the market launch of the Digi IX30-0EG4. The edge computing industrial IoT cellular router solution has achieved the “Anterix Active” designation, which signifies its full support for Anterix’s nationwide 900 MHz private LTE spectrum.
The Digi IX30-0EG4 is engineered for hazardous and mission-critical applications within both public and private LTE networks. It is tailored for energy and utilities applications. The router is C1D2 and NEMA TS2-rated, which ensures secure and reliable connectivity for industrial assets even in challenging environments.
Anterix is the largest holder of licensed spectrum in the 900 MHz band across the contiguous US, as well as Alaska, Hawaii, and Puerto Rico. The low-band spectrum is particularly well-suited for wide-area coverage, deep penetration through obstacles, and consistent performance over vast and difficult terrains. The Digi IX30-0EG4 is fully integrated with Digi Remote Manager (Digi RM) and powered by Digi Accelerated Linux (DAL OS).
Anterix Inc. (NASDAQ:ATEX) is a wireless communications company that commercializes its spectrum assets for targeted utility and critical infrastructure customers to deploy private broadband networks and broadband solutions. Digi International Inc. (NASDAQ:DGII) provides business and mission-critical IoT connectivity products, services, and solutions.
While we acknowledge the potential of ATEX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ATEX and that has 100x upside potential, check out our report about this cheapest AI stock.
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Disclosure: None.
