5 Best Tech Stocks to Buy According to Billionaire Ken Griffin

4. T-Mobile US, Inc. (NYSE:TMUS)

Citadel Investment Group’s Stake Value: $404.27 million

Percentage Of Citadel Investment Group’s 13F Portfolio: 0.08%

Number of Hedge Fund Holders: 91

T-Mobile US, Inc. (NYSE:TMUS) offers mobile and data connectivity services in the United States. It was given a ‘Buy’ rating by Tigress Financial analyst Ivan Feinseth on June 24, with an increased price target of $195 from $185. The analyst sees the firm’s growth momentum continuing to accelerate amid ongoing demand for high-speed network connectivity. If subscriber growth remains strong, Feinseth thinks T-Mobile could potentially begin its $60 billion share repurchase program later this year. On June 21, the company announced the expansion of its wireless service agreement with Dish Network (NASDAQ:DISH) which was initially made in 2020 and offers Dish network’s brands with access to T-Mobile’s 5G network. As of June 27, T-Mobile US, Inc. (NYSE:TMUS) stock has gained 19.79% in the year so far.

Ken Griffin’s Citadel Investment Group, according to regulatory filings for the first quarter, owned 3.14 million shares of T-Mobile US, Inc. (NYSE:TMUS) at a value of $404 million, up 89% over the previous quarter where the fund owned 1.67 million TMUS shares. The larger hedge fund industry was also eager on T-Mobile US, Inc. (NYSE:TMUS) in the first quarter, where 91 hedge funds owned positions in the firm, as compared to 86 hedge funds in the previous quarter.

For the first quarter of 2022, T-Mobile US, Inc. (NYSE:TMUS) posted earnings per share of $1.41, outperforming estimates by $1.05. However, revenue of $20.12 billion for the quarter fell below expectations by $16.9 million.

ClearBridge Investments, an investment management firm, talked about T-Mobile US, Inc. (NYSE:TMUS) in its Q4 2021 investor letter. Here is what the fund said:

“As mentioned, the communication services sector has come under some pressure, and irrational pricing competition has negatively impacted wireless industry growth and profitability of late, weighing on T-Mobile. Faced with these headwinds, and with pressure from other wireless carriers and cable companies that could cause the company to cede share in subscriber growth in 2022, we exited our position in the fourth quarter.”