5 Best Communication Stocks to Buy Now

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

Number of Hedge Fund Holders: 103
Market Cap: $170.782 billion

T-Mobile US, Inc. (NASDAQ: TMUS) is a provider of mobile communication services in the US, Puerto Rico, and the United States Virgin Islands. The company offers voice, messaging and data services and have over 102.1 million customers in the prepaid, postpaid, and wholesale markets. It was founded in 1994 and is based in Bellevue, Washington. According to Oppenheimer analyst Tim Horan, the TMUS stock is performing very well and is outperforming its competitors in the telecom sector. T-Mobile US, Inc. (NASDAQ: TMUS) delivered leading postpaid phone net additions and with its acquisition of Sprint, its customer traffic has greatly increased. Additionally, 2021 is expected to be a peak investment year for the company as it invests in a 5G network. Sprint merger integration and customer acquisition make it one of the best communication stocks to buy now. Furthermore, T-Mobile has also announced marketing collaborations with Alphabet Inc. (NASDAQ: GOOG)’s Google. With the acquisition of Sprint, the new T-Mobile owns more mid-band radio spectrum than AT&T or Verizon which could provide an important edge as 5G wireless services are rolled out. The company’s revenue rose 78% to $19.76 billion in 2020 with an earnings per share of $2.65. In 2020, it is forecasted that T-Mobile US, Inc. (NASDAQ: TMUS) will be able to reach 250 million people with its mobile 5G network.

At the end of the fourth quarter of 2020, 103 hedge funds in the database of Insider Monkey held stakes worth $9.1 billion in the firm which is an increase from 94 hedge funds in the previous quarter holding stakes worth $7.5 billion.