The increasing demand for high-speed digital connectivity and the accelerated deployment of 5G are driving the telecom industry’s growth. Therefore, we think fundamentally sound international telecom stocks América Móvil (AMX), Mobile TeleSystems (MBT), and Millicom (TIGO) could be solid bets now. Read on.The popularity of the hybrid work culture has fostered greater demand for high-speed connectivity. The accelerated deployment of 5G and the widespread adoption of internet-based technologies are now the major growth drivers for the telecom industry.
The industry is evolving rapidly to stay abreast of heightened market demand for high-speed connectivity. In addition, companies are focusing on the development of AI-backed next-generation applications to strengthen their market positions. The global telecom services market is expected to reach $2.47 trillion by 2028, growing at a 5.4% CAGR of 5.4%.
Given this backdrop, we think quality international telecom stocks, América Móvil, S.A.B. de C.V. (AMX), Mobile TeleSystems Public Joint Stock Company (MBT), and Millicom International Cellular S.A. (TIGO) could be solid additions to one’s portfolio now.