Forget Verizon, Buy These 3 Telecom Stocks Instead

Forget Verizon, Buy These 3 Telecom Stocks Instead

The telecom industry has witnessed bullish trends amid the COVID-19 pandemic thanks to the remote working culture. And the industry is expected to witness consistent demand as the hybrid work culture continues. But the shares of Verizon Communications (VZ) currently look significantly overvalued because the company may not be able to capitalize on the industry trends. Therefore, we think investors could instead bet on quality telecom companies AT&T (T), Lumen Technologies (LUMN), and Cogent Communications (CCOI). So, let’s examine these names.

New York City-based Verizon Communications Inc. (VZ) offers communications, technology, information, and entertainment products and services worldwide. Its total operating revenues increased 4.3% year-over-year to $32.91 billion in its third-quarter (ended September 30, 2021). However, its total current assets came in at $40.28 billion for the period ended September 30, 2021, compared to $54.59 billion for the period ended December 31, 2020. Also, its 0.41% trailing-12-month asset…

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