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Quarter-End Insights

Communication Services: Smaller Rivals Call the Shots in U.S. Wireless

The AT&T-Verizon duopoly is being undermined at the margin by T-Mobile and Sprint. Plus, the French telecom market has stabilized.

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  • Overall, we view the communications services sector as modestly undervalued at a market-cap-weighted price/fair value of 0.94.
  • AT&T and Verizon still own industry economics, but T-Mobile is now dictating the rules.
  • The French telecom market has stabilized since Iliad's disruptive entrance in January 2012.

Brian Colello does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.