Top 3 Communication Stocks To Watch In November 2020
Communication stocks have been performing rather well in 2020. This could be anything from video creation, e-commerce, video games, television, and more. Digital services have become more relevant in recent times because of the coronavirus pandemic. So, many top communication stocks to watch have been able to survive much better than other sectors. Numerous communication stocks have reached new heights in the market or come close. Investors have been looking at a variety of different communication stocks since the pandemic began.
This includes cell phone companies, TV providers, internet providers, and many more. Companies like Nokia Corporation (NOK Stock Report) and Warner Music Group Corp. (WMG Stock Report) have seen the benefits of being communication stocks in 2020. So let’s look at three that have been trending in the stock market throughout October.
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Top Communication Stocks To Watch In November 2020: AT&T Inc.
First up on this list of communication stocks to watch is AT&T Inc. (T Stock Report). AT&T is a telecommunications company with a focus on media and tech as well. It provides wireless telecom, video, internet, and more. It is operated using satellite, IP based, and streaming options. AT&T has audio services such as its self-titled brand, Cricket, AT&T prepaid, DIRECTV, and more. It holds a large market share in the television industry due to owning DIRECTV and SKY. Let’s see what this large communication company has been up to in recent times.
In July, this company reported its second-quarter results. It announced that service revenue fell 1.1% because of an international roaming decline. Its revenue also fell from $4 million year-over-year to $41 billion. The coronavirus pandemic had a negative effect on its segments despite an increase in phone usage. Its operating income was at $3.5 billion vs. $7.5 billion year-over-year as well. Its net income attributable to common stock was $1.2 billion vs $3.7 billion year-over-year. This is not good news for T stock. T stock is currently at a 5 year low.
If AT&T can improve in its next sales reports then it will be great for the company. Some investors will see this low point for the company as an opportunity to invest. That is why T stock has made this list of communication stocks to watch throughout October 2020. T stock closed at $28.28 a share this past Friday.
Top Communication Stocks To Watch In November 2020: Socket Mobile Inc.
Next up on this list of communication stocks to watch Socket Mobile Inc. (SCKT Stock Report). Socket Mobile is a communication company that produces data capture products for mobile applications that are used in business mobility markets worldwide. Its products are incorporated in mobile apps that are used in point of sale, enterprise mobility, asset tracking, transportation, and plenty more. This company just received a massive uptick in stock price. Let’s take a look at why the company is trending in the market with its recent news and financial reports.
On October 22nd, Socket Mobile reported its third-quarter results. It was in these results where the company stated its revenue decreased 17% to $4.1 million year-over-year. But it is a 51% increase in revenue from the second quarter of 2020. Its net income for the quarter was $414,000 compared to $94,000 year over year. Its revenue for 2020 up to September 30th was $11 million, a 24.7% decrease. The positive news here is obviously the increase in revenue from the second quarter of 2020. This has caused SCKT stock price to skyrocket in price. As of October 23rd, SCKT stock price is at $2.55 a share on average.
The CEO of the company, Kevin Mills said, “We were pleased to report revenue growth in Q3. We believe our Q3 results demonstrated our ability to adjust quickly to the extreme economic challenges posed by the COVID-19 pandemic and resulting uncertainties.”
This massive uptick of SCKT stock price is why it has made this list of communication stocks to watch. It will be interesting to see what progress this company is able to make in the coming months.
Top Communication Stocks To Watch In November 2020: T-Mobile US Inc.
Last up on this list of communication stocks to watch in October is T-Mobile US Inc. (TMUS Stock Report). T-Mobile is a mobile communications company that currently has more than 230 million subscribers all around the world. It is actively the 13th largest mobile service provider in the world. At the beginning of 2020, TMUS stock price was at $78 a share on average. Since then, TMUS stock has gone up to $112 a share on average. TMUS stock has managed to make a full comeback in 2020 due to the increased usage of technology throughout the year.
Back in August, the company reported its second-quarter results. It reported total revenue of $17.7 billion and service revenue of $13.2 billion. Its net income was reported at $110 million as well. Its net additions were 1,245,000, which it claims is the best in the industry. The same report comes with its total customers at 98.3 million, but at the second-most in the industry Currently, the company’s focus is on the 5G network.
TMUS stock is up 0.66% on the day of October 23rd. This increase is due to the company’s continued advancements and uptick throughout the year. T-Mobile is one of the largest mobiles provides, has been able to take advantage of the pandemic and grow. This has been seen with many other communication companies as well. Cell phone usage is at an all-time high during times where we are all stuck inside.
Communication stocks have been a large niche just like tech stocks throughout the year. It will be interesting to see how this sector is able to advance in the market as 2020 comes to a close. That is essentially why all of these companies have made this list of the top communication stocks to watch.