4 Telecom Stocks Under $10 to Buy This Month By StockNews
The telecom industry expects to see growth due to innovations and increasing adoption of 5G technology. Thus, foreign telecom stocks Telefónica, S.A. (TEF), Telia Company (TLSNY), Telefônica Brasil (VIV), and Turkcell (TKC), which are currently trading under $10, could be solid additions to one’s portfolio.The global telecom industry is rapidly transforming with carriers upgrading to 5G service which will increase capacity and bandwidth. The 5G revolution is also expected to transform the telecom sector due to the increasing dependence on internet services, particularly in remote areas. Accordingly, the worldwide telecom market is projected to expand at 5.4% CAGR between 2021-2028.
Investors have been placing their bets on telecom stocks in anticipation of 5G network commercialization. This is the expected next major tech trend. This is evident from the SPDR S&P Telecom ETF’s (XTL) 41% gains over the past year compared to the broader SPDR S&P 500 ETF Trust (SPY) 32% returns.
Given this backdrop, global telecom stocks Telefónica, S.A. (TEF), Telia Company AB (TLSNY), Telefônica Brasil S.A. (VIV), and Turkcell Iletisim Hizmetleri A.S. (NYSE:), which are currently trading under $10, could be solid bets now.
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