13 Best Telecom Stocks to Buy According to Hedge Funds

2. Comcast Corp. (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 80

Comcast Corp. (NASDAQ:CMCSA) is a global media and technology conglomerate that offers residential and business connectivity services. These include broadband, wireless, and video solutions. Through its Business Services Connectivity segment, it provides network services to enterprises, while its Residential Connectivity & Platforms segment delivers communication services to consumers.

In 2024, the company’s broadband revenue grew by 3% year-over-year, and convergence revenue, which combines broadband and wireless, grew by nearly 5%. However, the company experienced a loss of 139,000 broadband subscribers in Q4, although ARPU increased by 3.1%. Wireless revenue saw substantial growth and increased at a mid-teens rate. It added 1.2 million new lines in 2024 and brought the total to 7.8 million. This represents a 12% penetration of the company’s broadband customer base.

Comcast Corp. (NASDAQ:CMCSA) is upgrading its network infrastructure to deliver multi-gigabit symmetrical speeds through Project Genesis, with over 50% of the network already virtualized and a goal of 70% by the end of the year. This network upgrade is crucial for maintaining competitiveness against fiber overbuilds and fixed wireless expansion. It’s also using its extensive network, which includes 64 million homes passed with gig-speed internet and hundreds of thousands of miles of fiber, to enhance its converged offerings.