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Communication Services, a formerly stodgy sector, is now rivalling Tech

The sector’s odd mix of Tech-adjacent firms and old telecommunications players tells a tale of diverging industries

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    • For decades, “communications” stocks meant just Telecom – classically defensive, highly regulated slow-growers. But boring phone lines have now yielded to search engines, social media and online commerce – spurring Tech-like growth.
    • For decades, “communications” stocks meant just Telecom – classically defensive, highly regulated slow-growers. But boring phone lines have now yielded to search engines, social media and online commerce – spurring Tech-like growth. PHOTO: PIXABAY

    Ken Fisher

    Published Mon, Aug 5, 2024 · 05:00 AM

    WHAT is 2024’s top-performing global sector? With AI hype and hope dominating, you know it is Tech. But right behind, clobbering all else, is less-seen and little-known Communication Services.

    While present in Singapore, it is largely absent from the Straits Times Index (STI) – partly explaining the index’s 9.2 per cent year-to-date return through Jul 29, lagging global stocks’ 14.4 per cent.

    So what is this sector? And can its hot run last? Yes… and no.

    Tech stocksSea LtdSingtel

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