As AT&T, Verizon Suffer, Comcast Stock Rises.

In spite of slowing growth, 2023 has delivered more misery for investors in telecom giants AT&T (T), T-Mobile US (TMUS), and Verizon Communications (VZ). However, cable TV companies like Comcast (CMCSA) are beginning to see a resurgence in cellular development. And that is particularly evident in the shares of Comcast stock.

In spite of the industry’s sluggish growth, Comcast and Charter Communications (CHTR) increased their wireless market share in the March quarter. Cable companies gained 75% of the new postpaid subscribers, or those who pay the most on phone service, including Altice USA (ATUS).

Will they repeat it in the next three months? Wall Street analysts predict a 62% decrease in postpaid phone customer growth for AT&T over the period compared to the same time last year. Instead of gaining 12,000 postpaid customers as last year, Verizon is predicted to lose 1,000 of them. Additionally, T-Mobile will only see somewhat higher additions.

Analysts predict a 7% increase in Comcast’s postpaid phone customer additions, while a 75% increase in Charter’s is predicted.

According to SVB MoffettNathanson analyst Craig Moffett, “subscriber growth is almost a zero-sum game in the fully saturated wireless phone market.”

“Cable’s wireless ambitions have only grown more aggressive,” Moffett said. The abrupt drops in the stock values of all three of the Big Three telecom companies, but especially AT&T, “reflect an appropriately sober view.”
In 2023, Comcast Stock Rebounds

Investors have taken a hard stance against phone firms going into the June quarter financial reports.

In 2023, AT&T stock has decreased 16% and Verizon stock has down 10%. The TMUS stock is down 5% this year after prospering in 2022. However, a larger repurchase of TMUS stock may increase shares.

In the meanwhile, Comcast stock has increased by 14%. And from a technical perspective, shares have formed a double-bottom base, according to IBD MarketSmith.

Leave a Reply

Your email address will not be published. Required fields are marked *

Privacy Settings
We use cookies to enhance your experience while using our website. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. We also use content and scripts from third parties that may use tracking technologies. You can selectively provide your consent below to allow such third party embeds. For complete information about the cookies we use, data we collect and how we process them, please check our Privacy Policy
Consent to display content from Youtube
Consent to display content from Vimeo
Google Maps
Consent to display content from Google
Consent to display content from Spotify
Sound Cloud
Consent to display content from Sound