Should Investors Buy These Top Communication Stocks Right Now? 3 Names To Watch

Have You Noticed These Communication Stocks Recent Performance?

There are plenty of communication stocks that have been performing well in 2020. Communication stocks usually are companies that focus on services such as video games, cell phone service, internet providers, television providers, and more. That’s how companies like AT&T Inc. (T Stock Report) and Verizon Communications (VZ Stock Report) have been able to perform so well in 2020.

So the rise of communication stocks in 2020 has been similar to that of tech stocks, just not on the same level. There are plenty of stocks in this sector to consider as investments though. More communication stocks continue to increase in share price as we continue through the year. October continues to show that communication companies are performing well. The digital age has taken a leap forward during the pandemic and helped this sector out. So let’s look at three communication stocks to watch throughout this month.

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Top Communication Stocks To Buy [Or Sell] In October: Charter Communications Inc.

First up on this list of communication stocks to watch is Charter Communications Inc. (CHTR Stock Report). Charter Communications is a communication company that focuses on telecommunication and mass media. The company was founded in 1993 and is based in Connecticut. The company is now the second-largest cable TV company in the United States based on subscribers. Charter Communications is also the fifth largest telephone provider based on subscriber counts. The company has managed to be the third-largest paying TV operator as well. Seeing as this is such a large communications company, it can affect others in the sector too. Let’s look at the recent news for Charter Communications.

communication stocks  to watch (CHTR stock)

Well back in July, the company released its second-quarter results. The highlights for this included revenue growing 3.1% year over year to $11.7 billion. Its net income attributable to Charter shareholders totaled $766 million compared to $314 million the previous year.

Tom Rutledge the CEO and Chairman of Charter said, “Our ability to grow our services this year for new and existing customers, is a testament to our operating strategy, the quality of our products and our significant investment in systems and people over the last several years.”

This communication company was able to perform well despite the pandemic situation. People are using the internet and TV more than ever, which is what Charter primarily provides. So that is why CHTR stock is on this list of communication stocks. CHTR stock price is up significantly in 2020, from $499 a share to $649 a share as of October 13th.

Top Communication Stocks To Buy [Or Sell] In October: BlackBerry Limited

Next up on this list of communication stocks comes BlackBerry Limited (BB Stock Report). BlackBerry is a communication company that provides intelligent security software and services to companies and governments all around the world. The company focuses on cybersecurity, safety, data privacy, artificial intelligence, and more. It used to produce cell phones as well, which were very common in the early 2000s. So what has this communication company been up to recently? Just like many other companies, its second-quarter reports came out at the end of September. The company reported total revenue of $259 million for the fiscal 2021 period.

communication stocks to buy now (BB stock)

The CEO of the company, John Chen said, “We are pleased to report sequential and year-over-year revenue growth this quarter, exceeding expectations, despite the ongoing challenges from COVID-19.”

The company’s “work from anywhere” solutions are the primary source of the positive outlook for this communication company. It is experiencing strong partnerships, marketing, and customer success as well. BlackBerry also unveiled its first unified endpoint security solution for AI-powered cybersecurity in the last week as well. It seems like the company is making great advancements and progress. In the last 6 months, BB stock price is up 28.5%. That is why BB stock has made this list of communication stocks to watch.

[Read More] Top Gaming Stocks To Watch In October 2020

Top Communication Stocks To Buy [Or Sell] In October: ROKU

Last on this list of communication stocks comes ROKU Inc. (ROKU Stock Report). Roku is a Communication company that sells digital media players. These devices allow consumers to stream different applications like Netflix, or HBO GO to their TV that they otherwise would not have been able to. When it came to quarterly results, Roku beat the estimates for its profit and revenue by a large margin.  So let’s take a deeper dive into the financials of this communication company, as well as any recent news. Roku’s net revenue grew 42% to $356.1 million in this quarter. Its platform revenue also increased by 46%.

best communication stocks to buy (ROKU stock)

The company stated, “Year-over-year active account growth accelerated in Q2 to 41% with ending active accounts reaching 43 million, driven by strong sales of both players and Roku TV models throughout the quarter. Player unit sales were up 28% year-over-year led by strong growth in the U.S. and in certain international markets.”

ROKU stock price was at $138 a share on average when 2020 started. Now as of October 13th, this communication stock is at $238 a share. That is precisely why it has made the final spot on this list of communication stocks to watch. It will be great to see how Roku continues to advance as 2020 continues. Its third-quarter financial results will be released on November 5th, which will be telling for the future of the company.

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