12 Best Communication Stocks To Buy According To Hedge Funds

In this article, we discuss 12 best communication stocks to buy according to hedge funds.

In 2023, the communication services sector experienced a remarkable year. The sector’s success was partly a rebound from the previous year’s lackluster performance and partly fueled by investor enthusiasm for artificial intelligence. Despite the strong showing in 2023, the communication services sector appears to have significant potential heading into 2024. By the end of 2023, valuations within the sector remained attractive, and positive shifts were observed in earnings estimates. Despite reaching record earnings and displaying momentum, stock prices in the sector had not yet returned to their previous peak levels.

Fitch Ratings’ 2024 outlook for the North American Telecommunications and Cable sector remains neutral. The sector shows a divergence, with large wireless and tower operators expected to de-lever, while some telecom and cable operators face competitive and secular challenges, along with increased debt costs. The sector is viewed as relatively resilient due to the essential nature of broadband and connectivity services. Despite potential risks like consumers opting for lower-priced services, wireless subscriber growth is anticipated, supported by implemented price increases. Fitch projects modest revenue growth and improved free cash flow for the sector in 2024-2025, with EBITDA margins expected to slightly improve. The decline in 5G-related capital expenditures is anticipated to drive an overall increase in aggregate free cash flow, allowing certain operators to focus on debt reduction in 2024.

According to PwC, the telecommunications industry is grappling with a strategic challenge akin to mature industries, facing increased data consumption but limited pricing power in commoditized services. Despite a threefold increase in global data consumption by 2027, revenues from internet access are expected to grow modestly at a 4% CAGR to $921.6 billion. Telecommunications companies face significant investment needs, projected to spend $342.1 billion in 2027, particularly with the ongoing transition to 5G. PwC’s Global Telecom Outlook suggests that, amid cost-cutting efforts, telcos can explore growth in areas like IoT solutions, private 5G networks, home broadband, and tailored digital services for sectors like entertainment, healthcare, manufacturing, and mobility. Adapting to broader ecosystems is seen as a strategic imperative in this evolving industry.

Some of the best communication stocks to invest in according to hedge funds include Meta Platforms, Inc. (NASDAQ:META), T-Mobile US, Inc. (NASDAQ:TMUS), and Charter Communications, Inc. (NASDAQ:CHTR). 

Our Methodology 

We chose the top communication stocks based on overall hedge fund sentiment toward each stock. We have assessed the hedge fund sentiment from Insider Monkey’s database of 910 elite hedge funds tracked as of the end of the third quarter of 2023. The list is arranged in ascending order of the number of hedge fund holders in each firm. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). 

A skyscraper adorned with telecommunication equipment, symbolizing the industry.

Best Communication Stocks To Buy According To Hedge Funds

12. SBA Communications Corporation (NASDAQ:SBAC)

Number of Hedge Fund Holders: 32

SBA Communications Corporation (NASDAQ:SBAC) owns and manages wireless communication infrastructure, including towers, buildings, rooftops, distributed antenna systems, and small cells. The company has communication sites spread across the Americas, Africa, and the Philippines. It is one of the top communication stocks to invest in. 

On December 15, BMO raised its rating on SBA Communications Corporation (NASDAQ:SBAC) stock from Market Perform to Outperform. This shift is attributed to an appealing valuation for investors and a positive macroeconomic environment for tower REITs. Regarding valuation, SBA Communications Corporation (NASDAQ:SBAC) is currently traded at 18 times the estimated AFFO per share for 2024, representing what BMO perceives as a “favorable opportunity to invest in a top-tier business with robust long-term growth potential.”

According to Insider Monkey’s third quarter database, SBA Communications Corporation (NASDAQ:SBAC) was part of 32 hedge fund portfolios, compared to 42 in the prior quarter. Ken Griffin’s Citadel Investment Group is the leading stakeholder of the company, with 1.3 million shares worth $262.6 million. 

Like Meta Platforms, Inc. (NASDAQ:META), T-Mobile US, Inc. (NASDAQ:TMUS), and Charter Communications, Inc. (NASDAQ:CHTR), SBA Communications Corporation (NASDAQ:SBAC) is one of the best communication stocks to invest in. 

Baron Asset Fund made the following comment about SBA Communications Corporation (NASDAQ:SBAC) in its Q3 2023 investor letter:

“We reduced our stake in long-term holding SBA Communications Corporation (NASDAQ:SBAC), which owns and operates cellular towers, on concerns that higher interest rates will increase its debt servicing costs and indications that its primary customers will spend less on upgrading their cellular networks.”

11. Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Number of Hedge Fund Holders: 40

Frontier Communications Parent, Inc. (NASDAQ:FYBR) delivers communication and technology services within the United States. Its offerings include data and Internet services, voice communication, video services, and other related services. It is one of the best communication stocks to buy. 

On February 5, Frontier Communications Parent, Inc. (NASDAQ:FYBR) disclosed that it is carrying out a formal strategic review process. The review encompasses an examination of optimizing operational and financing strategies, evaluating strategic partnerships, joint ventures, divestitures, mergers, and business combinations. This strategic review was prompted by activist Jana Partners, who urged an immediate assessment and potential sale of the company. Jana believes that Frontier’s low valuation and strong presence in the fiber broadband sector could make it appealing to wireless carriers and private-equity-owned assets in the industry.

According to Insider Monkey’s third quarter database, 40 hedge funds were long Frontier Communications Parent, Inc. (NASDAQ:FYBR), compared to 39 funds in the prior funds. Matthew Barrett’s Glendon Capital Management is the biggest stakeholder of the company, with 24.2 million shares worth $379 million. 

10. Twilio Inc. (NYSE:TWLO)

Number of Hedge Fund Holders: 43

Twilio Inc. (NYSE:TWLO) offers software and communication solutions in the United States and internationally. The company runs a cloud communications platform for developers to construct, expand, and manage customer engagement within software applications. Established in 2008, Twilio Inc. (NYSE:TWLO) is based in San Francisco, California. It is one of the top communication stocks to invest in. 

On January 8, Twilio Inc. (NYSE:TWLO) revealed the appointment of a new CEO and provided optimistic projections for the upcoming quarter. The company anticipates that the fourth-quarter guidance, initially disclosed on November 8, will surpass expectations. Twilio Inc. (NYSE:TWLO) foresees adjusted earnings in the range of 53 to 57 cents per share, coupled with a revenue outlook between $1.03 billion and $1.04 billion.

According to Insider Monkey’s third quarter database, 43 hedge funds were bullish on Twilio Inc. (NYSE:TWLO), compared to 49 funds in the prior quarter. David Blood and Al Gore’s Generation Investment Management is the biggest stakeholder of the company, with 8.6 million shares worth $505.6 million. 

Aristotle Atlantic Focus Growth Strategy made the following comment about Twilio Inc. (NYSE:TWLO) in its Q4 2022 investor letter:

“We sold Twilio Inc. (NYSE:TWLO) and thereby reduced our subsector weight in software. The company reported a decent third quarter, but disappointed on fourth quarter 2022, full year 2023, and long-term guidance. The company is seeing macroeconomic headwinds and a slowdown spreading from technology, social media and cryptocurrency to retail and e-commerce. The other negative disclosure and a driver of this gross margin “miss” was that Twilio’s software sales are not accelerating at the rate that we expected. We are disappointed with this lower topline and low operating margin improvement guidance. The business transformation is taking longer than expected, and there is the heightened possibility that the new software growth could be stifled by more formidable competition as Twilio has made too many missteps.”

9. AT&T Inc. (NYSE:T)

Number of Hedge Fund Holders: 52

AT&T Inc. (NYSE:T) is a global provider of telecommunications and technology services. The company offers wireless communication services, sells devices, and provides a range of data services to businesses, government entities, wholesale customers, and residential customers. It is one of the best communication stocks, ranking 8th on our list. 

On February 1, J.P. Morgan upgraded AT&T Inc. (NYSE:T) based on expectations of sustained, long-term growth in both wireless and broadband segments. The primary source of growth is identified in AT&T Inc. (NYSE:T)’s broadband division, particularly through its ongoing fiber buildout, which is seen as creating additional opportunities within existing markets, according to J.P. Morgan analyst Richard Choe. The analyst increased his rating to Overweight from Neutral and raised the year-end price target to $21 from $18.

According to Insider Monkey’s third quarter database, 52 hedge funds were bullish on AT&T Inc. (NYSE:T), compared to 56 funds in the prior quarter. John Overdeck and David Siegel’s Two Sigma Advisors is the leading stakeholder of the company, with 22.6 million shares worth $340.7 million. 

Miller Value Income Strategy made the following comment about AT&T Inc. (NYSE:T) in its Q3 2023 investor letter:

“Our third-largest holding at quarter end was AT&T Inc. (NYSE:T), a leading provider of communications and connectivity services in the US. At $15/share, the stock trades at the same price it did almost thirty years ago. The share price is much less interesting to us in relation to where it has traded in the past than in relation to how much cash the company generates and what management is doing with it. At just over 6x earnings, the stock trades near its lowest price-to-earnings (P/E) multiple ever, also representing close to its largest-ever P/E discount to the stock market. The business converts most of its earnings to free cash flow, implying a forward free cash flow yield north of 15%. Just under half of free cash flow is going toward the dividend (7.5% yield), while much of the balance is going to debt paydown. In other words, if the stock does not fall below its lowest-ever valuation, investors clip a rock-solid 7.5% in cash, while owning a growing portion of a very steady business as management reduces debt outstanding. A discounted cash flow model will suggest that intrinsic value for shares begins with a “2,” suggesting the stock is undervalued on an absolute basis. The lack of volatility in the underlying fundamentals also makes it unique when compared to many other things we own, which reduces the probability of permanent capital impairment and argues for a significant weight in the portfolio.

AT&T looks particularly attractive when compared to some of the larger names dominating the S&P 500. Compare the stock to Apple, for instance, whose revenues and profits are likely to shrink this year, even as it trades at 29x this year’s earnings estimate. The ongoing return to rationality and capital accountability, along with extreme valuations in the megacap tech stocks, have us more excited about our portfolio’s prospects than we can remember for quite some time. As always, we remain the largest investors and welcome any questions or comments.”

8. Liberty Broadband Corporation (NASDAQ:LBRDA)

Number of Hedge Fund Holders: 52

Liberty Broadband Corporation (NASDAQ:LBRDA) is engaged in the communications sector. The company provides a range of services such as data, wireless, video, and voice to residential and business customers in Alaska. The company, incorporated in 2014, is headquartered in Englewood, Colorado. It is one of the best communication stocks to invest in. 

On November 6, Liberty Broadband Corporation (NASDAQ:LBRDA) reported Q3 GAAP earnings per share of $1.10 and a revenue of $240 million, falling short of Wall Street estimates by $2.05 and $14.5 million, respectively. 

According to Insider Monkey’s third quarter database, 52 hedge funds were long Liberty Broadband Corporation (NASDAQ:LBRDA), compared to 56 funds in the preceding quarter. Harris Associates is the leading stakeholder of the company, with 6.72 million shares worth $614.2 million. 

Madison Mid Cap Fund stated the following regarding Liberty Broadband Corporation (NASDAQ:LBRDA) in its fourth quarter 2023 investor letter:

“The bottom five detractors for the quarter were Arch Capital Group, Liberty Broadband Corporation (NASDAQ:LBRDA), Brown & Brown, Markel Group, and CarMax. Shares of Liberty Broadband, a holding company with a large investment in cable operator Charter Communications, were weak in the quarter as internet subscriber trends continue to disappoint. While the competitive environment is currently tough, we believe it will improve over time. Cable’s technology infrastructure is demonstrably superior, in both cost and performance, to what some of the legacy telecommunications carriers are currently rolling out in the form of “fixed wireless” broadband. Thus, their potential subscriber base is limited to a segment of the population base. We believe it likely therefore that the carriers will soon be limited in the competition they provide to Charter.”

7. American Tower Corporation (NYSE:AMT)

Number of Hedge Fund Holders: 60

American Tower Corporation (NYSE:AMT) is a leading global real estate investment trust that owns, constructs, and operates multitenant communications real estate. The company owns a massive portfolio of communications sites and data center facilities in the United States. American Tower Corporation (NYSE:AMT) ranks 7th on our list of the best communication stocks. 

On December 14, American Tower Corporation (NYSE:AMT) declared a $1.70 per share quarterly dividend, a 4.9% increase from its prior dividend of $1.62. The dividend was paid to shareholders on February 1. 

According to Insider Monkey’s third quarter database, 60 hedge funds were bullish on American Tower Corporation (NYSE:AMT), same as the prior quarter. Charles Akre’s Akre Capital Management is the biggest stakeholder of the company, with 6.7 million shares worth more than $1 billion. 

Baron Real Estate Fund stated the following regarding American Tower Corporation (NYSE:AMT) in its fourth quarter 2023 investor letter:

“Early in 2023, we sold the majority of our position in American Tower Corporation (NYSE:AMT), a global operator of over 200,000 wireless towers, and even further reduced our modest position in the third quarter of 2023. We had concluded in late 2022 and early 2023 that growth expectations were too high given forthcoming headwinds from significantly higher financing costs (20%-plus exposure to floating rate debt), upcoming debt maturities, continued payment shortfalls from a key tenant in India, foreign exchange headwinds, and a reduction in mobile carrier capital expenditures.

Following a sharp decline in American Tower’s shares in the first nine months of 2023, we began rebuilding our position because we believed that the company’s shares had become more attractively valued, growth headwinds were better understood, and the potential monetization event of its India business would ultimately be value accretive to its business. Further, we believe that 2023 will mark the trough in earnings growth for American Tower and growth should reaccelerate in the next few years.”

6. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 61

Verizon Communications Inc. (NYSE:VZ) offers communication, technology, information, and entertainment services globally. The company operates through two segments – Verizon Consumer Group and Verizon Business Group. On January 23, Verizon Communications Inc. (NYSE:VZ) reported Q4 non-GAAP earnings per share of $1.08, in-line with Wall Street estimates. The revenue of $35.1 billion outperformed market expectations by $550 million. Verizon achieved a total of 413,000 new broadband connections, marking the fifth consecutive quarter in which the company reported over 400,000 additions to its broadband customer base.

According to Insider Monkey’s third quarter database, 61 hedge funds were bullish on Verizon Communications Inc. (NYSE:VZ), compared to 53 funds in the earlier quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP is the biggest position holder in the company, with a stake worth $218 million. 

Verizon Communications Inc. (NYSE:VZ) ranks 6th on our list of the best communication stocks. Other hedge fund favorites include Meta Platforms, Inc. (NASDAQ:META), T-Mobile US, Inc. (NASDAQ:TMUS), and Charter Communications, Inc. (NASDAQ:CHTR).

Ariel Global Fund made the following comment about Verizon Communications Inc. (NYSE:VZ) in its Q3 2023 investor letter:

“By comparison, global communications and technology leader, Verizon Communications Inc. (NYSE:VZ), continued to weigh on performance following an article in the Wall Street Journal outlining concerns on lead cable lines posing a significant public health threat. Although the lead covered cable lines remain an overhang on shares, we find Verizon’s valuation to be compelling. The company delivered a solid earnings report, with subscriber and financial metrics in-line or ahead of consensus. Management also reiterated full year guidance and noted it may exceed its outlook for free-cash-flow. From a competitive and financial standpoint, we view Verizon to be among one of the best positioned telecoms in the world. Looking forward, we expect free cash flow to grow significantly in the years ahead as the company moves past the secular peak in 5G capital spending.”

5. Cisco Systems, Inc. (NASDAQ:CSCO)

Number of Hedge Fund Holders: 64

Cisco Systems, Inc. (NASDAQ:CSCO) is a global company that designs, manufactures, and sells networking and communication products worldwide. The company’s offerings include switches, routers, wireless products, and computing solutions. Cisco Systems, Inc. (NASDAQ:CSCO) is one of the top communication stocks to watch. On November 15, Cisco Systems, Inc. (NASDAQ:CSCO) reported financial results for the first fiscal quarter of 2024. The company announced a non-GAAP EPS of $1.11 and a revenue of $14.67 billion, topping Wall Street estimates by $0.08 and $40 million, respectively. 

According to Insider Monkey’s third quarter database, 64 hedge funds were bullish on Cisco Systems, Inc. (NASDAQ:CSCO), compared to 55 funds in the earlier quarter. Cliff Asness’ AQR Capital Management is the largest stakeholder of the company, with a position worth $611.6 million. 

Oakmark Fund made the following comment about Cisco Systems, Inc. (NASDAQ:CSCO) in its Q3 2023 investor letter:

“Cisco Systems, Inc. (NASDAQ:CSCO) is the leading networking solutions company. Networking equipment becomes more important as businesses modernize their IT infrastructure, and Cisco is well positioned to capture this demand given its broad portfolio and highly effective go-to-market strategy. Cisco is transitioning away from selling mainly transactional hardware and toward selling more software and subscriptions. This shift is expected to accelerate revenue growth, improve operating margins and build recurring revenue. Despite these notable business improvements, Cisco still trades near a trough valuation relative to the S&P 500 Index. More recently, Cisco announced its intention to acquire Splunk, a leader in security and observability, adding to its already strong position in the increasingly important security market. At a low-teens multiple of our estimate of normalized earnings, Cisco is trading comfortably below our estimate of intrinsic value.”

4. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 68

Comcast Corporation (NASDAQ:CMCSA) is a global media and technology company operating in various segments, including Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks. The company provides residential broadband and wireless services, video services, and advertising. It is one of the top communication stocks to buy. 

On January 25, Comcast Corporation (NASDAQ:CMCSA) reported a Q4 Non-GAAP EPS of $0.84 and a revenue of $31.25 billion, outperforming Wall Street estimates by $0.05 and $800 million, respectively. Despite ongoing declines in broadband subscribers, the company exceeded expectations in its fourth-quarter results and announced an increased buyback program of $15 billion.

According to Insider Monkey’s third quarter database, 68 hedge funds were bullish on Comcast Corporation (NASDAQ:CMCSA), compared to 66 funds in the prior quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the leading stakeholder of the company, with approximately 32 million shares valued at $1.4 billion. 

ClearBridge Large Cap Value Strategy made the following comment about Comcast Corporation (NASDAQ:CMCSA) in its Q3 2023 investor letter:

“Long-term holdings Charter and Comcast Corporation (NASDAQ:CMCSA) delivered strong second-quarter results relative to expectations; their stable recurring revenue streams and undemanding valuations were rewarded in the current environment. Cable multiples compressed over the past 24 months on fears of heightened competition in their core broadband business from fixed wireless and fiber providers. While fiber remains a competitive alternative to cable broadband over the long term, high upfront investments and a materially higher cost of capital are resulting in slower buildouts than previously expected. Fixed wireless also continues to gain traction, particularly in rural markets, but share gains also appear to be moderating. At the same time, both Comcast and Charter are expanding their footprints into rural and adjacent markets while gaining wireless market share, leveraging their mobile virtual network operator agreements with Verizon. We think both cable companies are well-positioned to continue to grow while generating substantial free cash flows. We added to Comcast during the quarter.”

3. Charter Communications, Inc. (NASDAQ:CHTR)

Number of Hedge Fund Holders: 73

Charter Communications, Inc. (NASDAQ:CHTR) is a broadband connectivity and cable operator in the United States, serving both residential and commercial customers. The company provides internet, video, mobile, and voice services, along with a range of broadband connectivity solutions, including fixed internet, WiFi, and mobile services. It is one of the best communication stocks to invest in. 

On February 5, J.P. Morgan downgraded Charter Communications, Inc. (NASDAQ:CHTR) stock from Overweight to Neutral and reduced the price target to $370 from $445. The downgrade is attributed to weaker broadband trends and a slowdown in EBITDA growth. Analysts anticipate persistent broadband weakness until 2025, resulting in losses. 

According to Insider Monkey’s third quarter database, 73 hedge funds were long Charter Communications, Inc. (NASDAQ:CHTR), compared to 67 funds in the prior quarter. Harris Associates is the largest stakeholder of the company, with 5.2 million shares worth $2.3 billion. 

Here is what Weitz Conservative Allocation Fund has to say about Charter Communications, Inc. (NASDAQ:CHTR) in its Q3 2023 investor letter:

“We swapped the Fund’s Liberty Broadband Corporation (NASDAQ:LBRDK) shares back to Charter Communications, Inc. (NASDAQ:CHTR) (Charter is by far Liberty Broadband’s largest asset), and the combined position was the most notable quarterly contributor. Investor sentiment around broadband’s competitive position became less negative, and the stocks rebounded nicely from what we considered oversold levels.”

2. T-Mobile US, Inc. (NASDAQ:TMUS)

Number of Hedge Fund Holders: 79

T-Mobile US, Inc. (NASDAQ:TMUS) delivers mobile communication services across the United States, Puerto Rico, and the United States Virgin Islands. The company provides voice, messaging, and data services to customers in different plans, including postpaid, prepaid, and wholesale. T-Mobile US, Inc. (NASDAQ:TMUS) is one of the best communication stocks to buy. 

On January 25, T-Mobile US, Inc. (NASDAQ:TMUS) reported a Q4 GAAP EPS of $1.67, falling short of Wall Street estimates by $0.23. The revenue came in at $20.48 billion, outperforming market consensus by $810 million. 

According to Insider Monkey’s third quarter database, T-Mobile US, Inc. (NASDAQ:TMUS) was part of 79 hedge fund portfolios, compared to 86 in the earlier quarter. Warren Buffett’s Berkshire Hathaway is the largest stakeholder of the company, with 5.2 million shares worth over $734 million. 

ClearBridge Dividend Strategy made the following comment about T-Mobile US, Inc. (NASDAQ:TMUS) in its Q3 2023 investor letter:

“During the quarter we initiated positions in two new names: T-Mobile US, Inc. (NASDAQ:TMUS) and Gilead Sciences. T-Mobile is the best-in-class player in the wireless space, delivering the strongest growth with the lowest cost structure and the best consumer proposition. T-Mobile’s strength is rooted in its advantaged competitive position. Its superior spectrum holdings enable it to provide better wireless service at meaningfully lower cost. T-Mobile’s annual capital expenditures run about $10 billion, on the order of half the amount its peers must spend. Due to its lower cost structure, T-Mobile can undercut its competitors on price while still generating compelling profitability and returns.

This combination — superior service at lower prices — has enabled T-Mobile to outgrow its competition. In the three years since completing its merger with Sprint, T-Mobile has grown its postpaid subscriber base by about 22%. Over the same period, AT&T’s has grown by about 14%, while Verizon’s by less than 5%.

Given the high fixed-cost nature of the wireless business, these steady increases in revenue growth have led to outsize increases in profits and free cash flow. Free cash flow in 2023 is expected to come in around $13.5 billion, up from less than $8 billion last year. In 2024 free cash flow is expected to grow by over 20% to approximately $17 billion — providing a 10% yield based on today’s stock price.

We have long admired T-Mobile, but until recently the stock did not pay a dividend. The company announced its inaugural dividend in September, and we bought the stock shortly thereafter. The initial yield is about 2% and it is expected to grow about 10% per year.”

1. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 234

Meta Platforms, Inc. (NASDAQ:META) is one of the top communication stocks to invest in according to hedge funds. On February 1, Meta Platforms, Inc. (NASDAQ:META) reported a Q4 GAAP EPS of $5.33 and a revenue of $40.11 billion, outperforming Wall Street expectations by $0.39 and $940 million, respectively. Meta’s board of directors also approved a cash dividend of $0.50 per share for its outstanding common stock. The dividend is scheduled to be paid on March 26, 2024, to shareholders of record as of February 22.

According to Insider Monkey’s third quarter database, 234 hedge funds were bullish on Meta Platforms, Inc. (NASDAQ:META), compared to 225 funds in the preceding quarter. Rajiv Jain’s GQG Partners is a prominent stakeholder of the company, with more than 11 million shares worth $3.3 billion.

The FPA Crescent Fund stated the following regarding Meta Platforms, Inc. (NASDAQ:META) in its fourth quarter 2023 investor letter:

“Meta Platforms, Inc. (NASDAQ:META) saw a welcome recovery in engagement and revenue year-to-date following a tough 2022. The company has continued to offer new solutions that allow advertisers to target customers effectively and efficiently via one of the world’s leading digital platforms. Moreover, operating profits are rising due to an organization-wide focus on improving productivity and accelerating the time to market for new products. However, overall profitability continues to be weighed down by losses in the Reality Labs segment. But, there is positive optionality that Meta will emerge from the AI arms race as one of the leading players in the industry.”

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out Jim Cramer Says You Should Stay Away from These 10 Stocks and 50 Richest Countries in the World by GDP Per Capita in 2024.

Suggested articles:

• 15 Biggest Agriculture Stocks in 2024
• Dorsal Capital Partners Sees a 13% Boost in 2023: Its Top 15 Stock Picks
• 10 Best Stocks To Invest In 2024 For Beginners

Disclosure: None. 12 Best Communication Stocks To Buy According To Hedge Funds is originally published on Insider Monkey.